Honeymoon at Karachi Stock exchange ends earlier than expected
2008-08-20 18:27:14 (GMT) (Caymanmama.com - Pakistan News News)Karachi, Pakistan (CaymanMama.com) — After just two days of celebration of Musharraf’s resignation, the Karachi Stock Exchange nose dived by 400 points. The short lived honeymoon was over as soon as the news that the ruling coalition has failed to reach a decision on the issue of restoration of judiciary.
The crash seemed imminent as the ruling coalition failed to decide the fate of the sacked judges. With the news of the PPP co-chairman denying reinstatement of the deposed Chief Justice, Iftikhar Mohammad Chaudhry, the crack in the relationship of PPP and PML-N can be seen more clearly.
Once again, the uncertainty started shaking the investors confidence. After loosing 400 points, the KSE-100 index stood at 10511.
The most hurt parties in today’s trading session were the small traders and investors who ventured into fresh purchases while strong sentiments ruled the trading floor at the Karachi Stock Exchange, just to see later that their investments started to melt during todays trading session.
CaymanMama.com - Press Release Distribution Service
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