Bears rule PSX, KSE-100 index bleeds over 900 points

• The index closed on 40,655.37 points witnessing a negative change of 948 points.
• Total volume traded in the market was 169,864,590 shares.

The Pakistan Stock Exchange (PSX) benchmark KSE-100 Index was ruled by bearish trend on Thursday, after the index lost over 900 points in the day.

The index closed on 40,655.37 points witnessing a negative change of 948 points, amid the announcement of the detailed verdict in high treason case against Pervez Musharraf. The Index started trading at 41,603.71 points and witnessed a bullish session throughout the day before taking a plunge at 2:00pm, just after the news of detailed verdict made rounds.

At a moment, the Index lost 1135 points, and was being traded at 40,414.36 points before gaining some momentum in the last hour. Total volume traded in the market was 169,864,590 shares.

The detailed verdict in high treason case against Pervez Musharraf has been announced by the Special Court on Thursday. The court ordered that if found dead, the convict's corpse be dragged to the D-Chowk, Islamabad, and be hanged for three days.

A three-member bench of the special court, headed by Peshawar High Court Chief Justice Waqar Ahmad Seth announced its verdict on Thursday. Of the three judges, Justice Seth and Justice Karim gave the death sentence while Justice Nazarullah Akbar wrote a dissenting note saying that the prosecution team could not prove treason case.

The judgement, which comprised of 169 pages, stated that the prosecution failed to defend the case effectively and provide sufficient evidence against the former army chief. The court, in its verdict, announced that death penalty is being awarded to Musharraf on different counts.