KSE-100 index plunges by 1,855 points amid political concerns

KSE-100 index plunges by 1,855 points amid political concerns

Pakistan KSE-100 index News

KARACHI: The JIT proceedings of an investigation regarding Panama Case had a full impact on the Pakistan Stock Exchange, forcing the benchmark KSE-100 Index down by 1,855 points.

The index lost 3.7 per cent to touch 47,672 points by the end of the session, testing the day’s low at 47,538. Market opened at 49,527, which remained the day’s high, after which the index could neither crossed, nor reach the same level.

Trading activity was led by the cement sector, with 50 million shares changing hands during the session.

The index was expected to test support at 49,502 but failed to do so. The next target was supposed to be 48,583, extendable to 47,492.

Acute panic among investors over the uncertainty surrounding the outcome of a joint interrogation team’s report regarding the ruling family’s business dealings abroad triggered a reaction amidst the negativity prevalent in the market.

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