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KSE-100 index dips beneath 40,000-mark as shares plunge 591 factors

The PSX’s benchmark KSE-100 index dipped beneath the 40,000-mark in afternoon buying and selling on Thursday, shedding 591 factors — going as little as 39,868 — as shares plummeted within the first few hours of buying and selling.

It returned above the 40,000-mark shortly after.

In response to the Pakistan Inventory Change (PSX) web site, the index was at 40,034.15 factors, down 425.55 factors or 1.05 per cent, from the earlier shut of 40,459.70 at 1:05pm.

Raza Jafri at Intermarket Securities mentioned that the political scenario remained “unsettled” which was feeding into an “acute insecurity in markets”.

“Pakistan has signed a staff-level settlement with the Worldwide Financial Fund (IMF) however confidence is brief. For confidence to return, we both want pledges of help from pleasant nations or a cooling down of the political scenario, or a mix of each,” he mentioned.

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