KARACHI: The three-week-long tumultuous political situation and use of brute force to quell the protesters by police for second consecutive day took its toll on the stocks as Karachi Stock Exchange KSE 100-index lost 297.03 points or 1.04 percent to fall to 28,270.71 in midday trading on Monday.
The market opened on a depressing note over political turmoil and straight away lost around 300 points. Experts fear that the market may go from bad to worse as there appears little hope for the resolution of the worst political deadlock that has plunged the economy into chaos.
Meanwhile, the confrontation, which has turned a deadly, shows little signs of letting up, as both Khan and Qadri have encouraged their supporters to battle on and police also resorted to teargas shells to stop the protesters advancement toward the Prime Minister’s House. At least three people have been killed and hundreds of others are injured in the clashes.
IMF sets new conditions for settlement of gas sector circular debt
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