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Pakistan market rebounds after crash, Economic Affairs Ministry disowns loan appeal, says account hackedThe slight rebound comes after Thursday’s sell-off, when the index plummeted 7.6% to an intraday low of 101,598.91 before closing at 102,674, down 7,334.93 points or 6.67%.By Asmita Pant  May 9, 2025, 11:02:03 AM IST (Updated)1 Min ReadThe Pakistan Stock Exchange (PSX) staged a modest recovery on Friday (May 9) morning after a historic plunge in the previous session. At 10:20 am, the benchmark KSE-100 Index was trading at 105,789, up 2,201.33 points or 2.13%.

The slight rebound comes after Thursday’s sell-off, when the index plummeted 7.6% to an intraday low of 101,598.91 before closing at 102,674, down 7,334.93 points or 6.67%.

The market volatility is unfolding against the backdrop of escalating military tensions between Pakistan and India. On Thursday night, India launched a retaliatory strike following what it called a "steep military escalation" by Pakistan earlier in the day.

Pakistan's Economic Affairs Division appeared to make a public plea for international financial assistance, stating on X (formerly Twitter):

"Govt of Pakistan appeals to International Partners for more loans after heavy losses inflected (sic) by enemy. Amid escalating war and stocks crash, we urge international partners to help de-escalate. Nation urged to remain steadfast."

However, the Pakistani government later disowned the post, claiming its official X account had been compromised.

A Reuters report, quoting a Pakistan government spokesperson, stated that the Ministry of Economic Affairs did not tweet the post.

Catch all the India Pakistan conflict live action with CNBC-TV18.com's blog Continue ReadingFirst Published: May 9, 2025 10:51 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIndia Pakistan warPakistan