KARACHI, Aug 15 (TNS): The Pakistan Stock Exchange suffered a massive hit amid on Tuesday, the first working day of the week, the the benchmark KSE 100-share Index falling by 1389.04 points.
The market had already stepped back and slipped in the red zone when it closed on Friday, falling 3.4 per cent week-on-week to settle at 45,288 points.
On Tuesday, it fell by -3.07 per cent. The KSE 30-Index and KSE All Share-Index also took a drubbing, falling by 727.03 and 969.02 points to close at 22620.54 and 31110.68 points respectively.
The unimpressive performance can be attributed to an uncertain political climate following the most-watched Panama Papers case verdict. In a show of strength, the former prime minister was mobilizing supporters in a march from Islamabad to Lahore via the GT Road with strategic stops on the way.
In addition to the political noise, heavy foreign selling, unimpressive economic data, dull corporate results and a dip in central bank’s foreign currency reserves dampened investor sentiments.
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