Karachi: KSE drops to 585 points
Bearish trend dominated the stock market as shares for only 26 million were traded.
KARACHI (Dunya News) – The ongoing political crisis has adversely affected the Karachi stock market as the Karachi Stock Exchange (KSE) 100 index has dropped to 585 points.
The sit-ins of Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) in Islamabad have negatively impacted the economy of the country. Though Karachi stock market witnessed a bullish trend earlier in the day today but later was dominated by the bearish trend.
KSE 100 index dropped to 585 points after which the index fell from 82,000 to 27,000 points. Meanwhile, shares for only 26 million were traded.
Banking and cement sector was lowered by 20 and 22 percent respectively. According to the investors, they invested in these sectors in the wake of initiation of anticipated development programs but now they fear that the development programs may not begin.
