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Shares at the Pakistan Stock Exchange’s benchmark index lost over 900 points during the intraday day trading on Friday.
According to the PSX website, the KSE-100 index plunged by 901.82 points to stand at 60,118.23 by 11:53 am.
The benchmark closed at 61,020.05 on Thursday which Topline Securities described as a “bolt from the blue”.
In a statement, the firm said that the benchmark index started to come off sharply after news arrived on different media channels regarding PTI engaging in talks with different parties to form a new government.
“This development knocked down the market’s positive momentum with a feather. Consequently, the index called the day at 61,020 levels (lost 1,134 points; down 1.82%).”
Moreover, The value of the dollar fell by seven paise against the rupee in the interbank market on Friday. The dollar was being traded at Rs279.30 in the early morning trade.
The greenback closed at Rs279.38 in the interbank market on Thursday, according to the State Bank of Pakistan.
Total liquid foreign reserves held by the country stood at $13.15 billion as of February 9, the central bank said.
