KARACHI – Pakistan Stock Exchange (PSX) saw massive drop of 2,281 points as political uncertainty in federal capital jolted stock market.
During reading on Tuesday, the KSE-100 index surged by over 1,700 points, reaching 99,777 points by 11 AM, signaling a strong start to the trading day.
Despite some midday pullback, the index remained in positive territory with a gain of more than 800 points, holding steady at around 98,960 points by noon. The market had briefly crossed the 99,000-point mark, reflecting optimism among investors across various sectors, undeterred by the ongoing political unrest.
Amid the chaos and deaths, investor sentiment seems dented, triggering and KSE-100 index reversed course, losing nearly 2,300 points, and ultimately fell below its opening level by the end of the session.
This dramatic turn of events comes after weeks of stability, where PSX had weathered political turbulence and profit-taking pressures to reach historic highs. Monday’s sharp decline marks a shift in the market’s resilience, as investors remain on edge due to the political developments.
Violence started in capital Islamabad as convoys of Pakistan Tehreek-e-Insaf (PTI) party entered capital for massive rally. several Rangers personnel died in clashes with PTI convoys, which have been traveling through various cities since Sunday, gathered in Islamabad for a much-anticipated power show. The rally is part of the party’s ongoing push for the release of its founder, Imran Khan, along with other demands.
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