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Pakistan stock market crashes nearly 1300 points after IAF air strikes

It was the largest decrease in the last 55 trading days.

Pakistan stock market crashes nearly 1300 points after IAF air strikes

New Delhi: Share markets of Pakistan fell on Thursday following following attack by Indian Air Force jets on terror camp in Pakistan.

The benchmark Pakistan Stock Exchange KSE 100 Index fell 1290.38 points or 3.32 percent at 37531.29 at 11.46 pm as per Pakistan Standard Time (PKT).

According to Dawn, Karachi Stock Market-100 index which opened weak with a loss of 184 points in the first half hour plummet 785.12 points to close at 38,821.67, yesterday. It was the largest decrease in the last 55 trading days.

In a befitting response to Pakistan over their failure to control terrorism on home-soil, India bombed and destroyed Jaish-e-Mohammed's (JeM) biggest training camp in Balakot in Pakistan's restive Khyber Pakhtunkhwa province, nearly 80-km from the Line of Control (LoC) early Tuesday. The pre-dawn operation eliminated a "very large number" of terrorists, trainers and senior commanders.

JeM chief Maulana Masood Azhar later confirmed that the air strikes did take place at the terror camp at Balakot but denied any damage to his cadre or family members.

India's strike came 11 days after a JeM suicide bomber killed at least 40 CRPF troopers in the Pulwama district of Jammu and Kashmir on February 14. This is the first time that the IAF crossed into Pakistan after the 1971 war.

With Agency Inputs