Share prices at Karachi Stock Exchange (KSE) extended their free fall Tuesday as concerns over deteriorating political situation continued to weigh on the market. In early morning trade, the benchmark KSE 100-share index was trading at 27,594.01, down 477.40 points, or 1.70 percent.
The decline is on top of Monday’s massive 4.5 percent erosion in equities value. Dealers have said that investors are anxious over current political situation in the country, adding the market outlook will remain subdued in coming days.
Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek plan to hold anti-government protest on August 14, 2014 in Islamabad. Market talk that the government could be thrown out of power if the situation is not defused are having a negative impact on the market, which has shown some phenomenal gains in the last few months, dealers said. – Samaa