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Home / Latest News / Karachi Stocks nosedive 0.88%, loses 275pts to dip to 31040pts ahead of PTI’s Nov 30 ‘showdown’
Karachi Stocks nosedive 0.88%, loses 275pts to dip to 31040pts ahead of PTI’s Nov 30 ‘showdown’

Karachi Stocks nosedive 0.88%, loses 275pts to dip to 31040pts ahead of PTI’s Nov 30 ‘showdown’

KARACHI: PTI’s call for a “historic” public meeting on Nov 30 in federal capital battered Karachi Stock Exchange as KSE 100-index plummet 275 points or 0.88 percent to 31040.17 points till midday trading on Tuesday.

It seems the stocks have taken affects of the impending political uncertainty ahead of the scheduled showdown in the federal capital that had scene to sit-ins and violent protests for almost two months.

KSE benchmark 100-index began trading at overnight closing of 31,316.96 points and remained in red zone.

The market opened on negative note and remained bullish, forcing investor to exercise caution.

It seemed protest rally called by PTI, political uncertainty, limited foreign interest, uncertainty in global stocks and commodities, concerns for rising circular debt in energy sector and dismal data on current account deficit for Jul-Oct’14 played a catalyst role for bearish activity at the Karachi Stock Exchange.