KSE-100 index plunges over 1,200 points

KSE-100 index plunges over 1,200 points

Karachi (Staff Report): The Pakistan Stock Exchange (PSX) witnessed the worst day of 2018 as the KSE-100 index fell by 1218.74 points to close at 40345.68 points.

The index opened higher, at 41,000 but could not sustain the momentum, peaking at 41,564 points before losing point mid-session to touch the day’s low of 40, 275 points.

The panic comes a day after the accountability court reserved its judgement on the Avenfield properties case, saying that the decision will be announced on July 6.

An accountability court will announce its verdict against former prime minister Nawaz Sharif, his daughter Maryam Nawaz and son-in-law Capt (retd) Safdar Abbasi on July 6 (Friday) in the Avenfield apartments reference.

The court, on Tuesday, reserved its judgment after defence counsel Amjad Pervaiz concluded his arguments in the case.