Investors adopted a dump-and-run approach as the KSE-100 index plunged over 1,300 points or 2.89%, falling below the 44,000 level with political uncertainty and the Ukraine crisis doing enough to push stocks deep in the red. The KSE-100 – a benchmark for market performance – underwent selling pressure from the word go, dipping to a low of 43,802.52 points during intra-day with volumes remaining on the lower side.
Market talk suggested that the ongoing Ukraine crisis is the prime reason behind investors’ dump-and-run approach at the Pakistan Stock Exchange (PSX). At the close, the benchmark KSE-100 index nosedived 1,302.41 points, or 2.89%, to settle at 43,830.51 points.
Speaking to the program, Alpha Beta Core CEO Khurram Shehzad said that the international oil prices – that breached $100 a barrel for the first time since 2014 – dented the investors’ sentiment.