The Pakistan Stock Exchange (PSX) has dropped 2,281 points as the jitters set in after the opposition party proceeded toward the red zone in the federal capital Islamabad on Tuesday morning.
Earlier, in the day, the benchmark KSE-100 index had gained over 1,700 points, after opening at 98,079.78 points. Around 11 AM, the index was seen hovering at 99,777 points. By noon, some of these gains had eroded, but the index was still well in green with over 800 points growth, hovering around 98,960 points.
The bullish trend seemed to be spread across the entire index showing an overall growth in investor confidence, instead of specific sectors leading the growth. It is notable, that during the same time, the law and order situation in the federal capital continues to get more unstable as the opposition party activists continue to march towards the red zone.
However, soon after, the index turned tide and dropped nearly 2,300 points below the opening stage. The index has been achieving historic highs during the past few weeks, unfettered by the political and profit-taking pressures. However, today the political instability seems to have taken its toll on the bourse.
