PSX: KSE 100 Index dropped by 471 points due to Indo-Pak tensions

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PSX or Pakistan Stock Exchange had seen a significant fall as the KSE 100 Index declined by 471 points.

KSE 100 Index reached at 40,016 points after facing a decline of 471 points or 1.16%. However, the index had seen the negative trend for the 3rd consecutive week.

On Monday (February 18), KSE 100 Index began trading towards the downward trend despite MBS visit to Pakistan. However, both countries signed agreements for investment in different sectors.

Next day, growing tension between India and Pakistan and weak corporate earnings aggravated things for the investors. 200% regulatory duty on imports from Pakistan also imposed after the Pulwama attack.

On Wednesday, investors were encouraged by strong results of some banks. The optimism, however, could not be sustained due to the lack of positive triggers.

Financial Action Task Force or FATF meetings to review the action plan of Pakistan to fight against terrorism financing and money laundering.

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