KSE-100 plunges over 3,600 points amid rising political and security turmoil
Business
The bloodbath came just a day after the index had rallied nearly 1,945 points, buoyed by optimism over trading activity and corporate earnings.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed a sharp sell-off on Tuesday as the benchmark KSE-100 Index plunged by 3,667.90 points, or 2.27%, to close at 157,870.50, dragged down by renewed political tensions and security concerns.
Investor confidence took a hit after a bomb blast outside Islamabad’s district and sessions court heightened worries over the country’s fragile security environment.
The decline also followed uncertainty surrounding the government’s 27th Constitutional Amendment Bill, tabled in the National Assembly a day after its passage in the Senate.
Analysts said investors preferred to stay on the sidelines, fearing fresh instability. “The compromise in the security situation has clearly dented market sentiment,” remarked Saad
Hanif, analyst at Ismail Iqbal Securities, adding that geopolitical tensions had further deepened the market’s nervousness.
The bloodbath came just a day after the index had rallied nearly 1,945 points, buoyed by optimism over trading activity and corporate earnings.
Globally, Asian markets showed mixed trends on Tuesday. While Nasdaq climbed 2.3% amid hopes of a US government shutdown resolution, South Korea’s Kospi and Japan’s
Nikkei posted modest gains. However, Hong Kong and Chinese markets remained under pressure.
