KARACHI : The Pakistan Stock Exchange (PSX) benchmark KSE-100 Index fall by over 1,000 points in the opening session on Thursday.
At 9:30 am, the index dropped by 1,073.15 points to 45,087.73 points amid political uncertainty.
The development comes a day after the sitting finance minister Dr. Abdul Hafeez Shaikh lost to former Prime Minister Yusuf Raza Gilani at the Senate election.
“Be ready for market fall tomorrow,” tweeted Topline Securities analyst Mohammad Sohail, on Wednesday after Hafeez lost the Senate election.
In a crushing disappointment to the ruling Pakistan Tehreek-e-Insaf (PTI), the joint candidate of the Pakistan Democratic Movement (PDM) and former prime minister Syed Yousaf Raza Gilani, on Wednesday, emerged victorious by defeating his rival Dr. Abdul Hafeez Shaikh, the federal finance minister, by five votes – 169/164 as seven votes were rejected under highly suspicious circumstances – in Senate elections.
