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Karachi stocks crash over political turmoil

Investors sell their overbought shares in panic

KARACHI – The Karachi Stock Exchange (KSE) on Monday witnessed a huge crash over political turmoil with the ‘very go’ of the trading.


The investors were seen selling their overbought shares in panic, while the buyers appeared reluctant and preferred to remain on the sideline that soon sent the market sagging. The benchmark KSE-100 index on one occasion during the trading was seen down by huge 1310 points.


Analysts said that the investors preferred unloading their overbought shares in great panic due to uncertain political scenario in Pakistan after the Sunday evening announcement of Azadi March of the Pakistan Tehreek-e-Insaf and the Revolution March of the Pakistan Awami Tehreek to kick off in tandem on August 14.


 

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