PSX loses 6,939 points in jittery week amid border skirmishes

Amid escalating tensions between nuclear-armed neighbours following India’s unlawful missile strikes against civilians early Wednesday, which resulted in the deaths of dozens of innocent people, investors grew increasingly concerned that the conflict could escalate into a full-scale war. Pakistan’s armed forces responded by downing five Indian fighter planes, creating a panic-like situation in the stock market. This led to staggering losses for the benchmark index in the outgoing tumultuous week. However, with some positive developments, including an interest rate cut and much-anticipated smooth sailing at the International Monetary Fund board meeting approving the second tranche and the climate resilience fund, the market in the last session staged a partial recovery.