The KSE-100 tumbled by 2,200 points on the PSX
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The Pakistan Stock Exchange (PSX) fell 2,281 points as the federal capital Islamabad rumbled on Tuesday morning after the opposition party moved into the red zone.
Earlier in the day, the benchmark KSE-100 index had gained over 1,700 points, after opening at 98,079.78 points. Around 11 am, the index was seen hovering at 99,777 points. By midday, some of those gains had been wiped out, but the index was still in the green with gains of over 800 points, hovering around 98,960 points.
The bullish trend appears to be spread across the index, with an overall increase in investor confidence, rather than specific sectors leading growth. It is noteworthy that at the same time, the law and order situation in the federal capital is becoming more unstable as the workers of the opposition parties are marching towards the red zone.
However, soon after, the index turned around and fell almost 2,300 points below the initial stage. Undeterred by political and profiteering pressures, the index has been hitting historic highs over the past few weeks. However, political instability seems to have gripped the market today.
