KSE-100 index plunges 2000 points following JIT report findings

KARACHI: The Pakistan Stock Exchange felt the shocks of Monday’s damning JIT report that found the prime minister and his three children — Maryam, Hussain and Hasan having amassed wealth beyond their own known sources of income.

The benchmark KSE 100-index plunged 2,000 points, reaching 44,251 points around noon on Tuesday (today).

On Monday, the benchmark KSE 100 index surged by 1,051.66 points or 2.27pc to 46,273.81 after a drop down by 511.91 points to 44,710.24. Not to forget the index has fallen from the year’s peak of 53,127.24.

The index has experienced great volatility in the days close to the submission of the JIT's report to the Supreme Court.

The Supreme Court’s special implementation bench also directed on Monday for the lodging of a case against the  Security and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi for record tampering in favour of the Sharif family.

The court will hold the next hearing of the case on July 17.