The KSE-100, the king of the Pakistani stock market, just took a dive like a rollercoaster gone rogue. Just one week before the big elections, a court decision sent shockwaves through the market, causing the index to plummet by over 900 points!
What happened? Buckle up, because it’s a story with twists and turns.
The day started promising, with the KSE-100 climbing like a happy mountain climber. But then, bam!, a bombshell dropped. A special court sentenced former Prime Minister Imran Khan and ex-foreign minister Shah Mahmood Qureshi to 10 years in jail.
Suddenly, the cheers turned into worried whispers, and investors stampeded for the exits like mice after spotting a cat.
Numbers Don’t Lie: A Deep Dive into the Market Mayhem
The KSE-100, which started at 62,773 points, climbed to 63,058 by 10:41 AM, only to fall like a falling star, reaching 61,653 by 1:10 PM. The freefall continued, hitting a rock bottom of 61,666 at 3:15 PM.
By the end of the day, the KSE-100 lay wounded at 61,841, a staggering 1.48% or 932 points lower than where it started.
This sudden tumble is like a tremor shaking the ground under investors’ feet. It reflects uncertainty and worry about the upcoming elections and the political landscape.
While you might not directly own stocks, this shake-up can affect the economy and ultimately, your everyday life.