KARACHI: The widespread uncertainty triggered by weeks-long stalemate in the federal capital, aggravated by roaring floods rattled stocks and the KSE-100 index shed 44 points or 0.15 percent to decline to 30,000 in the midday trading on Monday.
Earlier, the Karachi Stock Exchange opened in negative zone and lost 142 points to come down below the 30,000 mark to 29902 points. However, it showed resilience and narrowed the loss to climb quickly to 30,000 mark.
It seems the market has taken affects of the bleak political spectrum as the government has lodged a case against Imran Khan at Islamabad’s Bani Gala police station after the Pakistan Tehreek-i-Insaf (PTI) chairman got activists of his party released, who were detained by police for violation of section 144.
The capital police early on Monday surrounded Imran Khan’s Banni Gala residence after he helped release of the party activists.
According to sources, on the orders of Inspector General Islamabad Police Tahir Alam, around 5am nearly 1,500 police personnel gathered outside Imran’s residence.
After the news circulated in media, the Interior Ministry took notice of the issue and called back the police force from Imran’s residence.
On the other hand, the PTI plans to submit a contempt of court petition in the Islamabad High Court against the government over the arrests of its activists.
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