Pakistan, March 2 -- The Pakistan stock market shed 477 points during the week to close at 39,539. Although the technical charts were hinting at a correction at above 40000 levels, the sharp decline during the week was majorly attributable to disturbing news on the political front.

The situation escalated between India and Pakistan after the Pulwama attack last week, and an Indian airplane was shot down in Pakistani territory by local armed forces. A war-like situation was emerging which created panic among market participants and led to bearish momentum for the majority of the week. However, following televised statements by the Prime Minister of Pakistan and the promise of return of an Indian pilot, news flows suggested that the scenar...