KSE-100 sheds 670 points in intra-day trading

The KSE-100 Index plummeted as much as 670 points or 1.35% during intra-day trading.It is believed that SECP’s crackdown on in-house financing and Panama case hearing affected the stock market participants.

By 3pm, the index gained slightly to be 560 points down from Tuesday’s closing level, hovering around the 49,200 level.

The benchmark-100 share index opened positive, but hovered around yet again near the 50,000-point level and started going down just an hour into the morning session. Thereafter, investors continued to offload with worries over market’s liquidity and crackdown by the Securities and Exchange Commission of Pakistan.