PSX sheds 275 points during early trading

Wednesday 12 July 2017 1 month ago 38   Karachi   Print

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Report  Web Desk : KARACHI: Pakistan Stock Exchange has shed 275 points quickly after the trading opened a little while ago today. The bench 100-Index lost 275 points which translates 0.26 in term of percentage. The 100-Index was trading at 43,845 points after the erosion of 275 points. It may be mentioned here that at the close of trading the PSX had shed 2,153 points, which was the biggest-ever single-day loss. The 4.65 per cent decrease was the biggest decline in percentage terms since the last great fall on Feb 25, 2009. The market has dipped 7.5 pc since January. The selling spree in the market is being attributed to the adverse findings of the joint investigation team (JIT) report, which it submitted in the apex court yesterday. The day-before yesterday, that is on Monday the market gained more than 1,000 points, or 2.3pc, to regain ground it lost last week. The political uncertainty after the submission of JIT report at the Supreme Court Monday is also taking its toll on the stock market. (01)