Stock Market plummets 1,405 points following election day

KARACHI: On Tuesday, after the long weekend, the stock market continued the momentum from Friday, posting 265 points gains within an hour of trading. Wednesday, the day before general elections, the index continued to show positivity and stability with slow and steady growth.

However, on Friday – after General Elections on Thursday – Pakistan Stock Exchange (PSX) plummeted 1,405 points within an hour of trading.

Stock Market adds 300 points ahead of election day

The index opened at Wednesday’s closing of 64,143.87 points. By 10 AM, the benchmark KSE-100 index was seen hovering at 62,737.99 points.

The index has plummeted even further early in the day to 61,781.76 points, but has started to show recovery soon after plummeting.

Bulk of the decline in the index came from E&P companies, which continued to pull the index down towards noon as well.

Here is a snapshot of the index at the time of filing of this story: