Pakistan Stock Exchange plunges by over 6 pc over rumours of Indian strike near Karachi
Karachi, May 8 (PTI): The Pakistan Stock Exchange plunged by over 6 per cent on Thursday with trading halted for an hour after rumours of escalation in military action by India near Karachi.
Although the rumours were unfounded, the benchmark KSE100 index tumbled 6,948.73 points, or 6.32 per cent, to 1,03,060.30, before the trading was halted.
Trading resumed with Fatima Bucha of AKD Securities confirming the situation on the floor had calmed down a bit.
“But the situation could get worse as investors are panicking due to the geopolitical situation,” she said. “No one is sure what is going to happen and how and if Pakistan will respond to India's aggression.”
The downward trajectory of the index was largely driven by negative contributions from key stocks such as cement, energy, bank, and technology, which collectively dragged the index down.
Meanwhile the government has taken measures to keep its foreign exchange reserves stabilised.
It has imposed a 60-day ban on importing and exporting precious metals, jewellery, and gemstones from Thursday.
The temporary ban was imposed by a Commerce Ministry Order suspending SRO760 of 2013, which governs the trade of precious metals.
The restriction is linked to the recent impasse with India as a potential strategy to limit the flow of metals.
The State Bank of Pakistan has also informally advised all currency dealers in both inter-bank and open markets to closely monitor dollar outflows, as the escalating conflict could rapidly increase demand for the greenback.
Zaffar Paracha, general secretary of the Exchange Companies Association of Pakistan said if the currency market faced any shortage it could be managed but if there was a prolonged conflict it could damage both countries.
“For now we have not seen any panic buying of dollars, nor had demand escalated,” Paracha said.
According to a currency dealer, over 90 per cent of remittances to Pakistan come through Indian exchange companies, particularly from the West Asia — a channel that may face disruptions if the conflict between the two countries prolongs. “…In the case of a full-fledged war, these companies could be used by India as a tool to pressure Pakistan.”
Currency dealers, speaking on condition of anonymity, said Indian exchange companies are the main handlers of remittances to Pakistan.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Second PUC results: Life convict clears exam with distinction, DGP lauds effort
_vb_63.jpeg)
Bengaluru: A life convict lodged in Ballari Central Prison has successfully cleared the second PUC examination.
Ashok Kumar S, who appeared for the examination under prison escort, secured 481 marks out of 600, registering 80.1 percent.
Director General of Police (Prisons and Correctional Services), Alok Kumar (IPS), shared the development on his official ‘X’ handle, commending the inmate’s achievement.
In his post, he stated that it was heartening to see a life convict score over 80 percent in the examination, adding that the inmate had appeared from Ballari Central Prison under escort.
It’s heartening to see that one of our life convict prisoners Ashok has obtained 80.1% marks in PUC exam. He appeared under Prison escort from Ballari Central Prison for his exams.
— alok kumar (@alokkumar6994) April 9, 2026
Glad to see that Walls of the prison has not subdued his hopes for a better future. pic.twitter.com/Nzlcy076SR
He further noted that the achievement reflected that the “walls of the prison have not subdued his hopes for a better future.”
Alok Kumar in his post also shared the result sheet of Ashok.
The Karnataka School Examination and Assessment Board (KSEAB) declared the second PUC results for 2026 on April 9.
A total of 6,32,200 students appeared for the examination across all streams, of whom 5,46,698 passed, recording an overall pass percentage of 86.48 per cent.
