KSE-100 plunges over 700 points due to political uncertainty

Karachi: The benchmark KSE-100 Index appeared bearish from the opening bell and immediately dropped into the red zone after shedding over 700 points during the first few hours of intraday trade, with banking, cement, and fertilizer the top negative contributors on the bourse at the time. The KSE-100 index initially opened on a negative note. By 1:40 PM, the top bourse stood at 41,334 points, down by 740 points or 1.76 percent.

Market experts are of the view that the political uncertainty taking roots once again may potentially impact the International Monetary Fund’s (IMF) bailout program.