Bearish trend at PSX as KSE-100 sheds 670 points

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Karachi: Marred by the upcoming political instability, the benchmark KSE-100 index witnessed a bearish trend during the early day trading on Wednesday.

At around 11:25 am, the benchmark KSE-100 index shed 670 points, or 1.59%, to reach 41,520 points.

PSX trend

The bearish trend in the market was attributed by analysts to the uncertainty caused by the upcoming PTI march.

PTI Chairman Imran Khan on Tuesday announced that his party’s long march towards Islamabad for the country’s “Haqeeqi Azadi” would commence from Lahore’s Liberty Chowk on October 28, Friday.

Addressing a press conference in Lahore, flanked by the party’s top leadership, the former prime minister said the march will begin from the Liberty Chowk at 11 am, and he will lead it himself.

He clarified that the long march was “not politics” but a “war for the future of Pakistan.

However, it must also be noted that the stock exchange generally comes under selling pressure in the last week of every month because it is a roll-over week when the future contracts are to be settled or rolled over to the next month.

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