India’s neighbour Pakistan is in the middle of another cataclysmic maelstorm as the country tries to deal with resurgence of Imran Khan’s PTI resistance.
Protests In Pakistan
The ongoing turmoil has left Pakist. exchanges in tatters. In the previous trading session, the marquee KSE 100 index drowned in the pool of red.
The former Prime Minister of Pakistan and the leader of the Pakistan Tehreek-e-Insaf (PTI) has been in jail ever since his arrest in May 2023. Khan, however, has been calling on and guiding his supporters and PTI party workers, who have been relentless in their protest, as per reports coming from the Asian nation.
The protestors are demanding the immediate release of the former cricketer. As per some reports, there have been some fatal casualties that have been reported in these protests so far, as the Pakist. state under the leadership of PM Shehbaz Sharif have cracked down on these protests with brute force.
KSE 100 Crumbles
The equity markets situated in th commercial hub of the country, Karachi naturally are experiencing an exodus of resources from the their stock exchanges. The Pakistan Stock Exchange has been jolted by the uncertainties.
TradingView
In the previous trading session, which concluded on November 26, the benchmark index, KSE 100 lost a colossal 3,505.62 points, carving out 3.57 per cent of its value. This brought the overall value of the 94,574.16 points. Previously, the index closed at 98,079.78
In the past 5 trading sessions alone, the index has lost over 1.54 per cent of its total value.
The former PM was jailed for allegedly selling gifts worth more than USD 500K or Rs 4.2 crore that he received during his time as the prime minister of Pakistan. The former PM has asked his supporters to keep fighting for their cause.
Amidst all this chaos, it also needs to be noted that the Pakistan Stock Exchange’s own website is currently out of service, serving as a symbol of diminished system in the country.
Screengrab of the website |
