Stock market down by nearly 1,000 points

KARACHI: The Pakistan Stock Exchange (PSX) experienced a notable decline on Friday, after reaching record high on Thursday. The benchmark KSE-100 Index plummeted by 1,721.97 points closing at 80,117.89 points.

Today, the index opened at Friday’s closing amidst hopes of recovering some of those losses. However, moments after opening, the index began losing its position once again. By noon, the index had slipped almost 1,000 points.

PSX ends week in red, shedding over 1,700 points

One of the primary factors fuelling this decline is political unrest and uncertainty regarding the continuity of harmony in parliament. This political instability also causes uncertainty about the economy.

Friday’s decline was the largest single day drop since February 12. Throughout the trading session, the KSE-100 Index fluctuated within a range of 2,127.14 points. It reached an intraday high of 81,939.83 points and fell to the lowest of the day at 79,812.69 points.