Due to political uncertainty in the country, Pakistan Stock Exchange has suffered a loss of whopping Rs. 350 billion in 1 week from 24th to 28th October.
Not too long ago, Pakistan Stock Exchange (PSX) was enjoying a sweet fairytale when the index created history by crossing 41,000 points for the first-time ever. Moreover, international companies including Shanghai Stock Exchange also exhibited plenty of interest in acquiring some of Pakistan bourse stake.
However, the recent ongoing political situation in Pakistan has created a lot of uncertainty. Therefore, PSX has suffered a massive loss in one week.
Karachi Stock Exchange down by 800 points in last 2 days
Today, the KSE-100 index closed at 39,872 points. The index closed with 350 points in minus since the trading started in the morning. It is also pertinent to mention that the KSE-100 index was down by 500 points yesterday.
In total, the index has gone down by 1900 points only in this week starting from 24th October to 28th October. The market did gain some point today later in the day but the political unrest in the twin cities of Pakistan once again dented the progress.
Ever since the market created history on 20th October, it has only seen a constant decline. The index suffered a colossal loss of Rs. 353.65 billion in the last 5 days including today over 5 trading sessions.
The political climate is uncertain for the next few days and the situation is hard to forecast either. As a result, it is anticipated that the investors may play safe in the next trading session.
Recently, Bloomberg adjudged Pakistan Stock Exchange as one of the best performing markets. However, this news will have some serious consequences on their recent landmark.
Do you think the political stability in the country would help PSX in getting back on the track?