KSE-100 plunges to lowest level since Dec 2020 amid political uncertainty

Karachi: The Pakistan Stock Exchange (PSX) plunged to its lowest levels on Tuesday as the benchmark KSE-100 index shed nearly 500 points or 1.15 per cent to close below 42,000- point mark.

The selling pressure followed mounting political crisis and uncertain economic outlook.

A hike in a benchmark interest rate and the delay in the outcome of talks with the International Monetary Fund (IMF) also impacted the investment climate.

The investors were seen closely monitoring developments regarding PTI’s ‘Azadi March’ scheduled to begin tomorrow (May 25).

At close, the benchmark KSE-100 index closed at 41,950.32 after losing 489.93 points or 1.15%.