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Stocks tumble as KSE-100 index plunges over 1300 points

Dunya News

The markets negative movement was caused due to weak economic indicators.

ISLAMABAD (Dunya News) – Pakistan stock market on Monday tumbled as Karachi Stock Exchange 100 Index dropped by more than 1300 points.

The market’s negative movement was caused due to weak economic indicators, causing investors to panic. 

Earlier, Pakistan Stock Exchange had recorded a free fall during the previous week where share values reached almost nine-month low mark with recorded a decline of 1,772 points because of rising interest rates, worries on economic scenario, International Monetary Fund (IMF) strong words for the country’s economy and rising political temperature.

The index fell by 4.3 percent to close at 39226 points, falling below 40000, last recorded in December 2017.