KSE-100 index drops over 1,000 points

The bearish trend at Pakistan Stock Exchange continues as the KSE-100 index drops by over 1,000 points during early day trading on Tuesday, almost dipping below 41,000 points.

On Monday, the benchmark index stooped to a fresh low of the year, sliding another 925 points to close at 42,153.38.

Financial analyst Muhammad Sohail said that the political situation, constant decrease in foreign exchange reserves and current account deficit, which has reached one billion dollars, has made investors cautious.

Having receded over 20 per cent from its high of 52,876 points on May 24, it can be said that the KSE-100 index has officially entered the bear market territory.

Last week, the index reached 43,044.12 points, seeing a decline of 2.38 per cent.