Market drops by 300 points
Key indices at the stock exchange went through a nightmare on Thursday, losing a large number of points.
KARACHI:
Key indices at the stock exchange went through a nightmare on Thursday, losing a large number of points.
The benchmark KSE-100 Index closed 300 points down, dropping below 9400, while the KSE-30 and KMI-30 indices lost about 364 and 455 points in the day.
The All-Share Index closed down by 210 points while the total exchange volume at the market was only 106 million.
Analysts say political uncertainty and Capital Gains Tax on share transaction are the main reasons of this meltdown.
Key indices at the stock exchange went through a nightmare on Thursday, losing a large number of points.
The benchmark KSE-100 Index closed 300 points down, dropping below 9400, while the KSE-30 and KMI-30 indices lost about 364 and 455 points in the day.
The All-Share Index closed down by 210 points while the total exchange volume at the market was only 106 million.
Analysts say political uncertainty and Capital Gains Tax on share transaction are the main reasons of this meltdown.