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Stocks Bleed as Index Loses 1600 Points in Intraday Trade

Karachi (July 3, 2017):  Stocks bleed on Monday on Pakistan Stock Exchange as the benchmark index of the bourse lost some 1608 point during intraday trading.

The market resumed trading on the first day of the week in negative zone as the weary investors resorted to selling spree.

By midday, the benchmark KSE-100 Index shed some 1,608 points to plunge to 44957 points during the trading session.

The KSE-100 index had showed a moderate loss of 146.56 points or 0.31pc to close at 46,565 during the previous session.

Market participants attribute the bearish trend to prevailing political situation in the country.

They said that there was unease among the investors about the possible Panamagate verdict.

They added that the uncertainty and unease surrounding the Panamagate JIT report was taking punishing toll on the stock market.

It is to be mentioned here that the JIT is scheduled to submit its report in Supreme Court on July 10 after which the apex court will decide the future of the Prime Minister.

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