Stock exchange further plummets 824.81 points in first two hours of trading

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Karachi: After plummeting more than 2000 points yesterday, the Pakistan Stock Exchange (PSX) shed another 824.81 points in the opening hours on Wednesday. It fell to 43,100 points before rising slightly to 43,295 points at the time of filing of this report.

On Tuesday, in wake of the uncertainty surrounding the first family, the Pakistan Stock Exchange (PSX) crumbled. However, it came as no surprise for investors. After the JIT submitted the long-awaited report against the Prime Minister and his family yesterday, the sell-off seemed inevitable.

The KSE 100 index had opened the day lower, down over 1,500 points in the first half-hour of trading. Hitting a bottom of 44,117.17, a loss of 2,156.64 points, the index landed at 44,120.58, lower by 2,153.23 points or 4.65 per cent.

Bloodshed continued across other indices too, KMI 30 dropped 4.98 per cent, KSE All Share Index laid off 4.26 per cent and the OGTI and BKTI indices depreciated by 5.24 per cent and 5.31 per cent respectively. Only 24 scripts out of the 368 traded managed to advance on a day in which over 100 scripts plunged to lowest possible price of the day.