Negative sentiment is fueled by reports regarding the circular debt management plan, delays and uncertainties around the formation of a new administration, and a lack of clarity on the political front.
With index-heavy OGDC and PPL plunging into the red and the KSE-100 under selling pressure as a result of political unpredictability following the general elections, the broader market dismissed a post made by the Petroleum Division, Ministry of Energy, on Sunday evening.
With the election results coming as a “surprise” and taking too long to tally, along with criticism for their lack of transparency, the KSE-100 saw a decline of 1,200 points on Friday and was down nearly 2,000 points on Monday.
The KSE-100 was down 2096.72 points, or around 60,847.02, at 3:10 p.m.
Market shrugs off energy ministry’s post, KSE-100 plummets over 2000 points
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