PSX tumbles as KSE-100 index drops over 1500 points

KARACHI: Pakistan Stock Exchange (PSX) on Monday witnessed bearish trend as the benchmark KSE-100 index lost over 1,500 points.

According to the PSX website, the market opened with a downward trend, with the benchmark index declining by 771.87 points at 9:45 am, bringing the index down to 79,346.02 points.

At day’s close, the benchmark index settled at 78,539.18 points, down by 1578.71 from the previous close of 80,117.89 on Friday.

Market experts attributed the decline to rising political uncertainty, with the ruling coalition considering a ban on the opposition party, .

Earlier in the day, Islamabad Police arrested PTI Chairman Barrister Gohar Ali Khan and Information Secretary Raoof Hassan in a raid on the party’s secretariat.

According to Islamabad police, law enforcement agencies conducted a raid on the Pakistan Tehreek-e-Insaf (PTI) Secretariat based on concrete evidence. The police stated that the PTI Secretariat had been operating as the hub of an international disinformation network through its digital media center.

The raid was carried out following information provided by an international social media activist associated with PTI.