PSX Crashes By Over 1,700 Points After Supreme Court Decision [Updated]

Bulls vanished and bears wrecked the Pakistan Stock Exchange (PSX) after mid-session break today, with the benchmark KSE-100 index losing over 1,700 points in intraday trade after the Supreme Court of Pakistan ruled in favour of ex-Prime Minister Imran Khan’s political party in the reserved seats case. The benchmark KSE-100 index appeared bearish after Jummah break and immediately dropped into the red zone, losing 1,700+ points. After opening trade at 79,992 points, the benchmark KSE-100 index rose to 80,321 at 10 AM. At 2:30 PM, it clocked in at 78,611, down by 2.12 percent or 1,710 points. At 2:50 PM, it was at 79,323, down 0.84 percent or 670 points. It closed at 79,944, down 0.06 percent or 48 points. The highest participation was witnessed in Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) with over 45 million shares traded, followed by K-Electric Limited (PSX: KEL) and Worldcall Telecom Limited (PSX: WTL). The scrips had 33 million shares and 29.2 million shares traded, respectively.