Categories: Latest News

Bloodbath at KSE as100 index plunges 1,600 points

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.

 

Saman Siddiqui

Recent Posts

  • Entertainment News

Money Heist Korea – Joint Economic Area Review: Don’t watch keeping La Casa de Papel in minds

Money Heist Korea - Joint Economic Area, Netflix's much-awaited remake of the Spanish series has…

7 hours ago
  • Bollywood News

Shah Rukh Khan’s Pathaan: First Look Revealed

“Shah Rukh Khan’s look from ‘Pathaan’ has finally been unveiled. The first look at SRK…

9 hours ago
  • Latest News

Fake News Alert: SBP has not finalised design for Rs75 commemorative note

State Bank of Pakistan (SBP) has refuted claims circulating on social media regarding a commemorative…

10 hours ago
  • Latest News

Rangers release journalist, social media activist Arsalan Khan

Rangers have released journalist and social media activist Arsalan Khan. Arsalan Khan was taken away…

10 hours ago
  • Latest News

FIA arrests alleged mastermind of Mumbai attacks

The Federal Investigations Agency (FIA) has arrested suspect Sajid Mir with the aid of law…

11 hours ago
  • Sports News

Legendary Zaheer Abbas still in intensive care, brother requests prayers

Legendary Zaheer Abbas is still in intensive care, his brother requests prayers! Asian Bradman Zaheer…

12 hours ago