KSE 100-Index plunges by 500 points as trading begins on Tuesday

KARACHI: The KSE-100 Index dropped nearly 500 points shortly after trading for the day began on Tuesday morning.

The plummet in the index comes a day after the Federal Investigation Agency arrested two directors and the Chief Executive Officer of AKD Securities for allegedly ‘manipulating’ an Employees Old Age Benefit Institute investment scheme in 2010, which resulted in a loss of over Rs250m to the national exchequer.

Tuesday’s session started with the index resting at 33,009.13 but it fell to 32,515.05 within an hour ─ a drop of about 1.5 per cent at 494 points.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>