Tensions Escalate: Market Plummets as India Strikes Pakistan

Pakistan's stock market opened with a sharp decline following India's military strikes on several Pakistani sites. The strikes were in response to a terrorist attack in Indian Kashmir. Pakistan has denied involvement in the attack and warned of retaliation if further aggression occurs.

The Pakistan Stock Exchange experienced a significant downturn on Wednesday, with the benchmark share index opening down by 5.78%. This financial dip comes in the wake of military actions taken by India against multiple sites within Pakistan.

India declared that its strikes targeted nine Pakistani locations believed to house terrorist infrastructure. In contrast, Pakistani authorities reported eight casualties from these attacks, which hit six different areas within the country.

The strikes are India's retaliatory measure against an April 22nd attack in Indian Kashmir, which led to 26 casualties. India holds Islamabad responsible for this incident, a claim Pakistan has refuted while cautioning of potential reprisals should further attacks ensue.

(With inputs from agencies.)