Panama Case Verdict; PSX dips by 1000 points in early trade

As the political uncertainty arises in Pakistan, Pakistan Stock Exchange (PSX) plunges by around 1000 points in early trade on Friday.

The index dipped by 1,132 points to hit 44,777 points as of 9:40 a.m, as the market witnessed a knee-jerk reaction before the Supreme Court of Pakistan announces a judgment regarding the Panama Case. The market opened on a negative note and within no time it lost 1000 points where more than 200 companies landed in the negative zone and market capitalization evaporated by Rs 200 billion.

Economists are of a view that traders are not confident enough to invest in the market with regard to the current political situation of Pakistan.

Currently, at 11.15 a.m., just ahead of Panama Case verdict the index is still in loss by 915 points.