Pakistan stocks Tuesday plunged to a 30-month low as the country’s extremely riotous political situation freaked economy-wary investors into stampeding towards the exits, resulting in whopping losses, traders said. The KSE-100 Shares Index, the benchmark of the country’s capital market, lost 1,378.54 points or about 3.47%, to close at 38,342.21 points.
Analysts say the dissolution of the Punjab Assembly and the prevailing crisis in the country amid continuous demand from PTI for snap polls panicked the market into this vicious selloff. The delay in the revival of the International Monetary Fund’s (IMF) loan programme and the ongoing political uncertainty in the country caused the bloodbath in the stock market.
PSX plunges over 1,378 points to hit 2.5-year low