KSE-100 nose-dives by 500 points within hour of session starting

Published
12

KARACHI: The KSE-100 Index dropped nearly 500 points shortly after trading for the day began on Tuesday morning.

The plummet in the index comes a day after the Federal Investigation Agency arrested two directors and the Chief Executive Officer of AKD Securities for allegedly 'manipulating' an Employees Old Age Benefit Institute investment scheme in 2010, which resulted in a loss of over Rs250m to the national exchequer.

Tuesday's session started with the index resting at 33,009.13 but it fell to 32,515.05 within an hour ─ a drop of about 1.5 per cent at 494 points.

Drop of 494 points in KSE-100 index. ─ Photo: kse.com.pk
Drop of 494 points in KSE-100 index. ─ Photo: kse.com.pk

Since then, the index has recovered by about 133 points since then, reflecting a drop of 361 points since the day's trading began.

Trading picks up slightly by 10:40am. ─ Photo: kse.com.pk
Trading picks up slightly by 10:40am. ─ Photo: kse.com.pk

KSE-100 went into a tailspin on Monday in line with global trends, as several negative developments shook equity investors.

Due mainly to weak manufacturing data, Chinese stocks plunged 7pc in the first session of 2016. Investors’ anxiety was also at a high pitch as political tensions between Iran and Saudi Arabia escalated.

The Chinese stocks and Saudi-Iran tensions sent traders scurrying from stocks as European markets and US futures also joined the global selloff.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Expanding conflict
31 Jul, 2026

Expanding conflict

WITH neither of the belligerents willing to back down, and the theatre of conflict expanding geographically, the...
Spoils and spats
31 Jul, 2026

Spoils and spats

A FIGHT over assembly seats in Azad Jammu and Kashmir has laid bare what seem to be some deep resentments between ...
Unfair tax system
31 Jul, 2026

Unfair tax system

THE disclosure that the FBR collected nearly Rs1.9tr in sales and income taxes through electricity bills over the...
Debt that stays
30 Jul, 2026

Debt that stays

THE power sector’s circular debt grew by Rs61bn in the last fiscal year, taking the total to roughly Rs1.67tr from...
HIV warning
30 Jul, 2026

HIV warning

THE HIV infections detected around two SESSI-run hospitals in Karachi demand far more than another hurried committee...
End trafficking
30 Jul, 2026

End trafficking

MODERN slavery, in the form of human trafficking, is among the state’s gravest failures. Scores of Pakistanis are...