Karachi stocks crash over political turmoil

KARACHI: The affect of the political crises in the country continues on Karachi Stock Exchange (KSE) witnessed a huge crash on Monday.

The investors were seen selling in panic their overbought shares, while the buyers appeared reluctant and preferred to remain on the sideline that soon sent the market sagging.

The benchmark KSE-100 index on one occasion during the trading was seen down by huge 1200 points to peg below 29,000 points.

Analysts said that the investors preferred unloading their overbought shares in great panic due to uncertain political scenario in the country after the last evening announcement of PTI’s Azadi March and PAT’s Revolution March to kick off in tandem on August 14.