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Stock prices dropped more than 1,000 points because people are unsure about how the government is being formed.

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In Karachi, the Pakistan Stock Exchange (PSX) witnessed a significant decline in stock prices during early morning trading. The main KSE-100 index dropped by over 1,000 points on Monday. This decline occurred amidst uncertainty regarding the formation of a new government.

The benchmark index decreased by 1,103.90 points or 1.75%, reaching a trading level of 61,839.84 points. This was a notable decrease from the previous close of 62,943 points. Investors reacted to the uncertainty surrounding the government’s formation, contributing to the decline in stock prices.

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Samiullah Tariq, who heads the research at Pak-Kuwait Investment Company, said the loss was because people weren’t sure how the government would form.

On February 8, Pakistan had its 10th general elections. Many independent candidates supported by Pakistan Tehreek-e-Insaf (PTI) won.

Last Friday, the Pakistan Stock Exchange (PSX) initially dropped over 2,000 points because people were unsure about the election results.

But by the end of the day, the market recovered some losses, closing 1.87% lower at 62,943 points.

Market experts like Muhammad Sohail from Topline Securities said the early drop was surprising because it didn’t match what people expected before the elections.

This uncertainty caused a lot of selling, and the main KSE-100 index dropped by 3% at its lowest point.

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