Stocks tumble amid political scare

16
Staff Reporter

The Pakistan Stock Exchange (PSX) began the week on a negative note on Monday, with the benchmark KSE-100 index diving nearly 700 points during the session as the market reacted to repercussions of a strike call. .

In the morning, the market kicked off trading with a dip and continued to spiral downwards throughout the day.

Although mid-session buying helped the benchmark index recoup some of the losses, it still finished deep in the red. Midday relief came on the back of corporate result announcement by Engro Fertilisers and Mari Petroleum.

Moreover, investors welcomed newly appointed Finance Minister Shaukat Tarin. At close, the benchmark KSE-100 index recorded a decrease of 392.06 points, or 0.87%, to settle at 44,913.57 points.