PSX falls over 1,378 points to hit 2.5-year low

PSX falls over 1,378 points to hit 2.5-year low

Karachi (Web Desk): Pakistan Stocks Exchange (PSX) on Tuesday lost 1,378.54 points or about 3.47 to a 30-month low due country’s political situation.

The KSE-100 Shares Index close at 38,342.21 points.

Analysts say the prevailing political crisis in the country and delay in the revival of the International Monetary Fund’s (IMF) loan programme caused the bloodbath in the stock market.

Later the day, National Assembly Speaker Raja Pervaiz Ashraf on Tuesday accepted the resignations of 35 members of the National Assembly belonging to the Pakistan Tehreek-e-Insaf (PTI).

Murad Saeed, Omar Ayub Khan, Asad Qaiser, Pervaiz Khattak, Noorul Haq Qadri, Asad Umar, Ghulam Sarwar Khan, Sheikh Rashid, Hammad Azhar, Shafqat Mehmood, Syed Ali Haider Zaidi, Qasim Khan Suri and others are among the lawmakers whose resignations have been accepted.

The Election Commission of Pakistan (ECP) has also de-notified the members.