Bloodbath at PSX as KSE-100 index plunges over 2,200 points
- By Anjum Wahab -
- Feb 12, 2024
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”.
Read more: Pakistan’s remittances increase by 1pc in January 2024: SBP
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.