Pakistan’s 100 Index sheds massively ahead of Panama ruling

Pakistan’s 100 Index sheds massively ahead of Panama ruling

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KARACHI: The KSE-100 Index fell massively during the first trading hour on Wednesday, shedding as much as 822 points to register an early low of 46,052 points.

The market seems to be in a bearish mood, as the Index has not crossed 46,874 points – the level from yesterday’s close of trade. A small gain was experienced on Tuesday though, in comparison to Monday’s overall level.

The investors’ cautious sentiment stems from the uncertain political environment with the Supreme Court of Pakistan geared to disclose the much-anticipated ruling on the Panama Leaks case on April 20, 2017.

The benchmark index is trading down 0.82% at 46,490 points, as of 10:55 AM local time. More than 38.3 million shares have exchanged hands by now in transactions worth Rs. 3.38 billion.

This negative mood, which has been observed since the past four trading days, is expected to stay throughout the week ending April 21, 2017.-Web Desk

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