More on the riots at the KSE

Riots at stock exchanges as shares plunge

From Salman Siddiqui.

KARACHI - Equities Thursday suffered another major blow in the fifth consecutive session during the week. The capital market has lost more than 2,000 points causing a loss of over Rs500 billion. As predicted earlier, the KSE 100 Index has nose-dived by 4.38 percent with a huge margin of 380.61 points. At the close it was 8314.19. Friday would be another catastrophic day. “However, there is no danger of witnessing any further crash. No one would be at default now,” claimed a major stakeholder at the KSE market.
The situation at Lahore was no different as bearish trend dominated at Lahore Stock Exchange (LSE-25). All the blue chips once again opened at the lowest circuit breaker and index at LSE-25 decreased by 228.68 points and closed at 4465.79.
Negative news regarding any settlement of political dispute in Balochistan and future contact settlement made the investors panicky. There were no buyers. Some institutions came for rescue but in vain.
The KSE 100-shares Index shed another 380 points or declined by 4.38 percent to close at 8314.10 points.