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Ceasefire Deal Sparks Stock Market Rally in India and Pakistan
Ceasefire Deal Sparks Stock Market Rally in India and Pakistan
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Equity markets in Pakistan and India surged sharply on Monday following a weekend ceasefire agreement between the two nations. Pakistan’s KSE-30 Index skyrocketed 9.2%, its largest single-day gain since 2008, while India’s Nifty 500 climbed 3%.
The rally reversed last week’s bearish sentiment. India’s Nifty had dropped over 1% on Friday amid geopolitical tensions, while the rupee underperformed regional peers. Pakistan’s benchmark had lost 9% since the April 22 Kashmir incident.
Risk assets benefited from the de-escalation, though no direct cryptocurrency impact was observed. The Reserve Bank of India’s bond purchases helped stabilize debt markets during the previous volatility.
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