PSX website<\/a>, the index plunged by 2,278 points shortly after trading began. It then recovered slightly, losing 1,720.27 points, or 2.68 per cent, to stand at 62,423.60 points by 9:30am.<\/p>\nThe KSE-100 index finally closed at 62,943.74 points, down 1,200 or 1.87pc from the previous close of 64,143.87.<\/p>\n
Topline Securities Ltd CEO Mohammed Sohail said that based on pre-election surveys, the market was expecting a PML-N-led coalition government.<\/p>\n
\u201cBut based on initial unofficial results, this looks difficult,\u201d he noted.<\/p>\n
Ali Malik, CEO of First National Equity, said the market was expecting a politically stable government after yesterday\u2019s elections.<\/p>\n
\u201cHowever, it now seems that there are a lot of independents which could form the next government. The investors will be clear when the results are clear,\u201d he said.<\/p>\n
He further said that there was a lot of confusion among investors at the moment, who foresaw political instability with the formation of a government comprising independent candidates.<\/p>\n
He said this was the reason that investors were not interested in buying and were looking to sell. \u201cSo uncertainty is the key factor for today\u2019s fall,\u201d he said.<\/p>\n
JS Global Head of Equity Faran Rizvi said that the market was in the red due to \u201cpolitical uncertainty\u201d, prompting caution for market participants considering long positions.<\/p>\n
\u201cAchieving long-term macroeconomic improvement hinges on political stability, a crucial factor to drive the market index towards positive growth,\u201d he said.<\/p>\n
Awais Ashraf, director of research at Akseer Research, said there was a lack of a clear majority for any political party, which had created uncertainty regarding the continuation of reforms as well raised question marks regarding future negotiations with the International Monetary Fund (IMF).<\/p>\n
\u201cA hung parliament poses challenges for fiscal consolidation and tends to push the ruling regime towards making populist decisions,\u201d he said.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 index plunged 1,200 points over political uncertainty on Friday as the results of the general elections trickled in after a protracted delay. According to the PSX website, the index plunged by 2,278 points shortly after trading began. It then recovered slightly, losing 1,720.27 points, or 2.68 per cent, […]<\/p>\n","protected":false},"author":2,"featured_media":58083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/02\/09172227f8dfa08.jpg?r=172512","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-58082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/58082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=58082"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/58082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/58083"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=58082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=58082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=58082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}