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KSE-100 index fell by 1250 points points over political uncertainty – Business

The Pakistani Stock Exchange (PSX) KSE-100 benchmark index fell to 1250.07. points on On Monday, the country faces an uncertain political situation.

On Sunday, National Assembly (NA) Vice Speaker Qasim Suri threw out in no-confidence motion against Prime Minister Imran Khan, after which President Arif Alvi dissolved the National Assembly. on in prime minister council.

legality of these moves is an currently discussed in the Supreme Court, which is expected to issue Order soon.

market fell over 700 points just after the bell opened, slipping further during the day to close at 1250 points, or 2.77%, in red for 43 902.

According to Mattis Global – but web-founded financial data and analytics portal — cement, commercial banks and technology communications and telecom sectors were the biggest losers of day.

Head of shares of Intermarket Securities, Raza Jafri, said decision to dissolve The National Assembly was unexpected and caused a strong reaction in in market.

Meanwhile, stockbroker Zafar Moti said that political developments over the weekend was unexpected market behaved contrary to expectations.

He said market may continue on a similar trajectory until the Supreme Court delivered its verdict on cause.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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