Karachi (July 11, 2017): Stocks bleed at Pakistan Stock Exchange (PSX) on Tuesday amid the Panama JIT report as KSE-100 Index lost over 2100 points.
On Tuesday the market resumed trading in the negative zone and the Index lost 2120 points, or 4.5 percent, by 2:10 pm.
Within minutes of the market opening, the benchmark KSE-100 index plunged over 1,300 points, going from 46,273 at 9:30am to 44,969 at 9:35am ─ a drop of nearly 2.83 per cent.
By around noon, the market further fell to 44, 135 points, a drop of 4.5pc or 2120 points.
On the first day of the fiscal year, the benchmark index took a 4pc plunge, shedding 1,900 points as political uncertainty clouded the outcome of the JIT probe.
It was the first time the index had tanked over 4pc since in August 2015, when China depreciated the Yuan, and before that in August 2014 during the Pakistan Tehreek-i-Insaf’s sit-in in Islamabad.
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