KARACHI: Pakistani stocks continued their free-fall at the start of the week, with the benchmark Karachi Stock Exchange 100-index falling almost 1,200 points or 4 per cent during mid-day trading on Monday.
The benchmark index was at a six-month low, floating around 28,743 points at 1 pm, down 1,214 points or 4.05 per cent since the start of trading.
The market has lost 4,870 points during the last two months, with experts estimating that investors have lost now lost over USD10 billion or Rs 1 trillion.
Mohammad Sohail, CEO of Topline Securities, said the bearish trend was "largely due to different rumours circulating in the market".
Panic-selling was seen across all sectors the previous week as well as stocks fell like nine-pins, going under the 30,000-level after 22 weeks. The market has been abuzz with speculation about leveraged investors selling stocks to meet margin calls.
The News International Pakistan
