KARACHI: The hoax of surgical strike inside Pakistan claimed by the Indian Army has cost India dearly, as it eroded Indian stock exchanges. However, Pakistan Stock Exchange (PSX) hit a record high during the intra-day trading on Friday.
As per detail, the claim of Indian Director General Military Operations on Thursday that Indian forces have conducted surgical strikes in Pakistan hit the Indian shares markets hard. Bearish trend prevailed in the Indian stock exchanges over the fear of escalation of tension at LoC and working boundary on the consecutive second day.
On Thursday, the Indian stock exchanges came under the hammer. Its National Stock Exchange’s Nifty 50 index plunged by 154 points or 1.76 percent while the S&P Bombay Stock Exchange SENSEX Index went down by 465 points or 1.64 percent.
On the other hands, on Friday PSX bench mark KSE-100 index touched the record high of 40,865 points during the intra-day trading session. The investors showed interest in purchase of shares by ignoring the rumors and warmongering of India.