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Reading: Karachi stocks crash over 4pc on political uncertainty
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PhotoNews Pakistan > Top News > Karachi stocks crash over 4pc on political uncertainty
Top News

Karachi stocks crash over 4pc on political uncertainty

Web Desk
By Web Desk Published August 11, 2014 1 Min Read
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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.

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.

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