Karachi Stocks Crash Over 4pc on Political Uncertainty

Karachi stock prices crashed over 4 percent in early Monday trade as heavy across the board selling was seen by investors worried over political uncertainty in the country.

Karachi stocks crash over 4pc on political uncertainty

The benchmark Karachi Stock Exchange (KSE) 100-share index was trading at 28,126.38, down 1,254.12 points, or 4.21 percent, at 1000 hours PST. “There is heavy selling on concerns over political situation. There is a lot of uncertainty,” said a senior dealer.

Dealers said that the market outlook is seen negative in the short-term, negative political developments will continue to weigh on the market in days to come. Anti-government protests by Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) are having a negative impact on the market, which has shown some phenomenal gains in the last few months, the dealers said. – Samaa