PSX opens in red, sheds 900 points

KARACHI: Pakistan Stock Exchange (PSX) on Monday fell like a house of cards and lost over 900 points amid country’s current political crisis that erupted with National Assembly deputy speaker deeming the no-confidence resolution against Prime Minister Imran Khan “unconstitutional”.

The  stock market came under intense selling pressure from the start of trading as the KSE 100-index shed 931 points.

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The PSX is being currently trading at 44,211 points level.

The investors said that the PSX is witnessing a bearish trend as the investors are not showing trust in the market after the tense political situation in Pakistan.

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National Assembly Deputy Speaker Qasim Suri yesterday termed the no-confidence motion against the premier “unconstitutional”, saying that it was backed by “foreign powers”.

It is to be noted that President Arif Alvi has dissolved the National Assembly on the advice of Prime Minister Imran Khan.

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