Stock market reacts negatively to post-JIT report

Stock market reacts negatively to post-JIT report

Karachi (Web Desk): The Pakistan Stock Exchange reacted negatively to Monday’s post-Panama case Joint Investigation Te .am (JIT) report against the Prime Minister and his family.

According to details, the benchmark KSE 100-index dropped by 1,500 points, going below 45,000 points.

The Stock Exchange Market has been taking hits since the previous month or so for various causes, including the ‘unjust buildup’ to its entry in the MSCI Emerging Markets Index, ‘unfriendly’ measures in the new fiscal year’s budget and the ‘political uncertainty’ related to the Panama Papers case.

In its final probe report into the Sharif family’s assets, the JIT maintained that the PM and his three children — Maryam, Hussain and Hasan — have accumulated wealth beyond their own known sources of income.

However the hearing of the case was adjourned till July 17.