PSX Index Drops 1100 Points As Panama Papers Decision Draws Close

With the Panama Papers verdict by the Supreme Court at 11.30am being the highlight of the day, the KSE-100 Index is facing the heat already – its stocks plunging to 44,757.16 down by 2.5 percent equivalent to 1149 points.

All eyes are on the final judgment of the mega corruption scandal case the Panama Case today. After an intra-day decline of 2.5%, the KSE-100 Index has recovered somewhat, down by 1.98% as compared to the overnight 2.5% at 10:30 am today.

Owing to the speculations before the final verdict on the money laundering case, the investors have been more circumspect cherry-picking stocks at lucrative valuations.

The confusions on the political front were the precursor for the slow progress in the market on Thursday, thereby leading to a 2.5% decline, however, the market seems to be up and running following the announcement of Supreme Court’s verdict to be declared at 11:30 am.

This is a developing story and we’ll continue to update it as details come in.

Feature Writer