KSE-100 Index Drops 1,700 Points the Morning After Election Day in Business Markets

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The KSE-100 index of the Pakistan Stock Exchange plunged 1,700 points in early morning trade on Friday amid political uncertainty as the results of the general elections were delayed. According to the PSX website, the index dropped by 2,278 points shortly after trading began, before recovering slightly to lose 1,720.27 points, or 2.68 per cent, by 9:30am. Analysts noted that the market had been expecting a PML-N led coalition government based on pre-election surveys, but the initial unofficial results painted a different picture. The presence of many independent candidates creating uncertainty about the formation of the next government led to a lack of interest from investors, who were more inclined to sell. JS Global Head of Equity stated that the market’s downturn was a result of political uncertainty and cautioned against long positions, emphasizing that political stability was crucial for positive growth in the market.

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