Bloodbath at PSX as KSE-100 index plunges over 2,200 points

KARACHI: Shares at the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index lost over 2,200 points on Monday, as the market opened after the general elections.

According to details, the KSE-100 index shed 2,214 points, to stand at the 60,729 level by 3: 08 pm.

In its report, the Topline Securities said that clarity on the structure of the new coalition government, the prime minister, and the economic team was “crucial for investors”.

The unconfirmed and unofficial results of the February 8 general elections show independent candidates have secured a majority of the National Assembly seats while the PML-N emerged as the single largest party.

On the other hand, remittances sent by overseas Pakistani workers registered an increase of 1 per cent MoM basic to $2.53 billion in January 2024 as compared to 26pc in January 2023, data issued by SBP revealed.