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Markets

KSE100 Nosedives by over 800pts as Schools Close

  • Pakistan Stock Exchange benchmark KSE-100 Index nosedived by over 800 points with news of schools closing down nationwide.
Updated 23 Nov 2020

KSE100 nosedives by over 800 points as lockdown measures are enforced nationwide.

At the time of filing this report, the index was being traded 39,339.83 points showing a drop of 847.35 points and a percentage change of negative 2.11 percent.

The KSE 100-share index fluctuated due to bearish trading in Pakistan's stock market. Investor sentiments have once again succumbed to the pressure with news of schools closing nationwide.

The Federal Education Minister Shafqat Mahmood announced the closure of schools from the 26th of November and instructed that online classes will be carried out from November 26 to December 24.

The Pakistan Stock Exchange has experienced volatile performance in the past few weeks, in a combinatorial impact of the resurgence of the COVID-19 pandemic, and political upheavals.