Pak stock market loses over 2130 points due to political uncertainty

The benchmark KSE 100-index opened at 46,273 points today in the morning but hours later plunged by 2,238 points, going down to 44,135 points.

Reports say the investors have lost about 300 billion rupees because of the downward trend in the stock market.

The stock market has been taking hits since the past month or so for various reasons, including unfriendly measures in the new fiscal year’s budget and the ‘political uncertainty’ related to the Panama Papers case.

The JIT, in its final probe report into the Sharif family’s assets, held that the prime minister and his three children — Maryam, Hussain and Hasan — have accumulated wealth beyond their own known sources of income.

The next hearing of the case is on July 17.

The Supreme Court’s special implementation bench also directed on Monday for the registration of an FIR against Security and Exchange Commission of Pakistan Chairman for tampering records in favor of the Sharif family.

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