the benchmark Karachi Stock Exchange (KSE 100) index crashed as much as 880 points the during the day to an intraday low of 38,726.73 on Tuesday, February 26, 2019. | Photo Credit: BCCL

New Delhi: The headline index of Pakistan Stock Exchange (Karachi Stock Exchange) tanked 785 points on Tuesday, February 26, 2019, after India struck Pakistan. In a befitting move after Pulwama attack in which 40 Central Reserve Police Force (CRPF) personnel lost their lives for which the terrorist group Jaish-e-Mohammed (JeM) claimed the responsibility, the Indian Air Force (IAF) took the bold step witnessing the inactivity of Pakistan Government against the terrorist group. The Indian Air Force early today dropped 1,000 kilogrammes bombs in the Balakot, Muzaffarabad, Chakothi, Pakistan.

Following the development, the benchmark Karachi Stock Exchange (KSE 100) index crashed as much as 880 points the during the day to an intraday low of 38,726.73 on Tuesday, February 26, 2019, the Bloomberg data showed. The KSE 100 index, later in the day, pared the losses marginally and closed at 38,821.67, down 785.12 points or 1.98 per cent from the Monday’s closing level of 39,606.79.

According to the chart available with Bloomberg, the KSE 100 index has been on a falling trend, largely after the Pulwama attack which happened on February 14, 2019. In the meantime, from February 14 till today, February 26, 2019, the KSE 100 index has dived 1,685.31 points or 4.16 per cent to 38,821.67 from the closing level of 40,506.98 as on February 14, 2019.

The air strike by the Indian Air Force was carried out early morning at around 3:30 am using 12 Mirage fighter jets. According to news reports, the Mirage fighter jets have completely destroyed terrorist camps and launchpads, including alpha-3 control rooms across the Line of Control (LoC).