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Bloodbath at KSE as100 index plunges 1,600 points

KSE-100 Index opened at 44,840.81 points and sank to 43,506.34 a little before 1 pm.

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Bloodbath at KSE as100 index plunges 1,600 points on Monday.

KSE-100 Index opened at 44,840.81 points at the start of the business day and made a high of 44,841.41 points before going down swiftly.

However, the bearish trend reigned as the market closed at 43,233 points.

According to the PSX website, KSE-100 Index opened at 44,840.81 points, made a high of 44,841.41 points before going down rapidly, and sank to 43,506.34 a little before 1 pm.


As reported, Karachi Stock Exchange’s benchmark 100-index witnessed a decrease of 1,600 points due to political instability and a delay in talks with the International Monetary Fund (IMF).

Experts suggest that the country’s stock market was under pressure due to the depletion of foreign reserves.

On the other hand, the US dollar continued its flight towards record levels against the rupee.

On Monday, the dollar price increased by Rs1.13 to Rs187.90 against the rupee.

Since April 16, the dollar rate has increased by Rs 6.

 

the authorSaman Siddiqui
Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.