The Pakistan Stock Exchange fell sharply on Monday. The KSE-100 index dropped 1,964.87 points, a fall of 1.18%.
The index closed at 165,124.41 points. It had closed at 167,089.28 points the day before. The KSE-30 index also fell. It lost 837.55 points to close at 49,004.16.
Political uncertainty hit investor confidence. The federal government declared Emergency and Governor’s Rule in Khyber Pakhtunkhwa over the weekend.
President Asif Ali Zardari approved the cabinet’s recommendation on Sunday. This news worried investors ahead of Monday’s trading.
Some investors bought stocks at lower prices during the day. This caused a brief recovery. But the gains did not last.
Ali Najib, deputy head of trading at Arif Habib Ltd, shared his view. He said further downside pressure cannot be ruled out.
He added that value buying at lower levels may offer some support. He advised investors to stay selective.
The Topline Sales Desk said the emergency declaration hurt market sentiment. It triggered selling across most stocks. Many investors stayed on the sidelines.
