The Pakistan Stock Exchange (PSX) suffered large losses on Wednesday as a result of the mounting political unrest brought on by Imran Khan’s declaration of a lengthy march commencing on October 28. In response to new political events, bears turned to stock selling, sending the benchmark KSE-100 index plummeting and losing 650 points.
The market experienced persistent selling pressure that kept the index below 42,000 points for the whole of the trading day. Investor interest was further weakened by the rupee’s 0.43% interbank depreciation against the US currency.
The session had earlier started out poorly as the market fell shortly after trading began. It was still being sold down and hit an intraday low of 41,490.13 points. The benchmark KSE-100 index dropped by 650 points, or 1.54%, to finish the day at 41,540.03. In its analysis, Topline Securities stated that Pakistani stocks were in a negative trend as the KSE-100 index closed at 41,540 (a decrease of 1.54%).
Imran Khan, the chairman of the PTI, said that his long march will begin on Friday from Lahore, and the index fell to an intraday low of 699 points as a result, it claimed.
