Stock exchange sheds 539 points as political uncertainty looms
Imran Khan has vowed to launch Nov 2 Islamabad protest at all costs
PHOTO: PPI
KARACHI:
Uncertainty at the political front in the country on Thursday caused the benchmark KSE 100-Index to decline by 539 points or 1.35 per cent, as trading closed at 39,987 points.
This was the fifth consecutive session wherein the Pakistan Stock Exchange's (PSX) trading closed in the negative zone.
Overall, the volumes declined by 10.3 per cent to 384 million shares, while value decreased by 3.9 per cent to Rs12.4 billion or $119 million.
Pakistan Tehreek-e-Insaf (PTI) has planned a mass protest in Islamabad on November 2 against the alleged corruption of the rulers. While the Islamabad High Court imposed Section 144 of CrPC to restrain public rallies, PTI chairman Imran Khan said the sit-in will be staged at all costs.
Islamabad protest will be held at any cost: Imran Khan
Imran holds the stance that the premier either return the 'looted' money to the exchequer or step down from his position. On the other hand, the ruling PML-N says all those named in corruption cases should be held accountable. Disagreeing, PTI asserts that it must begin with the assets of the premier's children.
Imran accuses Punjab CM of receiving kickbacks on development projects
The government and opposition parties, mainly led by PTI, have been unable to formulate ToRs as all meetings held in this regard have remained futile.
Leaked documents from the Mossack Fonseca law firm in Panama in April this year showed that several world leaders including the premier’s three children – sons, Hassan and Hussain, and his daughter, Maryam – owned at least three offshore holding companies registered in the British Virgin Islands.
Uncertainty at the political front in the country on Thursday caused the benchmark KSE 100-Index to decline by 539 points or 1.35 per cent, as trading closed at 39,987 points.
This was the fifth consecutive session wherein the Pakistan Stock Exchange's (PSX) trading closed in the negative zone.
Overall, the volumes declined by 10.3 per cent to 384 million shares, while value decreased by 3.9 per cent to Rs12.4 billion or $119 million.
Pakistan Tehreek-e-Insaf (PTI) has planned a mass protest in Islamabad on November 2 against the alleged corruption of the rulers. While the Islamabad High Court imposed Section 144 of CrPC to restrain public rallies, PTI chairman Imran Khan said the sit-in will be staged at all costs.
Islamabad protest will be held at any cost: Imran Khan
Imran holds the stance that the premier either return the 'looted' money to the exchequer or step down from his position. On the other hand, the ruling PML-N says all those named in corruption cases should be held accountable. Disagreeing, PTI asserts that it must begin with the assets of the premier's children.
Imran accuses Punjab CM of receiving kickbacks on development projects
The government and opposition parties, mainly led by PTI, have been unable to formulate ToRs as all meetings held in this regard have remained futile.
Leaked documents from the Mossack Fonseca law firm in Panama in April this year showed that several world leaders including the premier’s three children – sons, Hassan and Hussain, and his daughter, Maryam – owned at least three offshore holding companies registered in the British Virgin Islands.