New Delhi, May 8 || The stock markets in Pakistan further tanked on Thursday, as trading was halted at the Karachi Stock Exchange (KSE) amid rising geopolitical tensions.
Karachi Stock Exchange fell more than 6 per cent on Thursday before the trading was halted. The stock exchange has been witnessing a continuous decline since the barbaric Pahalgam terror attack.
The main index, Karachi Stock Exchange 100 Index (KSE-100), has slipped by more than 13 per cent since April 22 when the terror attack happened, killing 26 people, most of them tourists.
On April 22, the KSE-100 index was at 1,18,430, which has now dropped to 1,03,060.
Apart from this, another Pakistani stock index, KSE-30, has also fallen more than 14 per cent since April 22.
Amid the grim state of the stock markets, Pakistan has only $15 billion of foreign exchange reserves left and is on the verge of economic collapse.
The country is seeking a fresh loan worth $1.3 billion from the International Monetary Fund (IMF) to run its economy.
Pakistan's economy, in the initial years after independence, grew at the same pace as India's, backed by US aid and donations from the oil-rich Islamic nations.