Sunday, March 3, 2024
Sunday, March 3, 2024
HomeBusinessPSX Faces Significant Drop Amid Government Formation Uncertainty

PSX Faces Significant Drop Amid Government Formation Uncertainty

The Pakistan Stock Exchange had a big drop in the early morning trading on Monday. The main index, KSE-100, went down by more than 1,000 points. This happened because people were uncertain about who would form the new government.

The KSE-100 index went down by 1,103.90 points or 1.75% and reached 61,839.84 points. This was a drop from the previous day’s close, which was at 62,943 points.

On Friday, the PSX had a huge drop of over 2,000 points when the results of the general elections on February 8 were uncertain. However, by the end of the day, the market recovered a bit and closed at 1.87% lower, with 62,943 points.

According to experts, the initial drop happened because the election results were unexpected. These results were different from what people thought would happen before the elections. This uncertainty led to many people selling their stocks, which made the KSE-100 index drop by 3% at its lowest point.

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