The Pakistan Stock Exchange (PSX) saw a sharp fall at the opening of the trade on Monday as the index KSE-100 shed over 2,200 points. The fall, which was recorded at 3.55% or 2,232.91 points brought index to 60,710 points, which was down from the previous day’s closing of 62,943 points, showed the existing uncertainty as to the formation of a new government.
The market performance slipped after the General Elections 2024 held on February 8, where numerous independent candidates, affiliated with the Pakistan Tehreek-e-Insaf (PTI), won. PSX initially dropped by over 2,000 points on Friday owing to the contested election results. However, the market exhibited robustness, recouping some of the losses to end the day at 62,943 points, which was down by 1.87%.
The huge wave of uncertainty triggered a massive sell-off as the KSE-100 index reached its lowest point and incurred a loss of 3% during this chaotic period. The market is still in a state of alertness, as investors are keeping an eye on the political events that have to do with the need for stability to uplift confidence in the financial industry.