The Karachi Stock Exchange (KSE) on Monday witnessed a bearish trend on the first day of the week as political tension flared up in the country.
In the first half an hour, the benchmark 100-index shed more than 1,000 points to peg below 29,000 points.
The stock brokers blamed the current political turmoil for the drop in points.
The Bloomberg also recorded that the KSE-100 Index declined 4.5 percent to 28,072.12 at 10:15 a.m. in Karachi, heading for its steepest drop since February 2009.
Meanwhile, investors were selling their over-bought shares in panic after the government decided to prevent PTI and PAT’s march scheduled on August 14.
The buyers were also seen reluctant in buying the shares due to the growing political uncertainty
The Cement and banking sector fell 35% and 27%.
