KARACHI: The stock market witnessed a bloodbath on Monday as the KSE-100 index plunged by 781 points (1.90 per cent) to close at 40,324 points.
Deafening noise on the political front, uncertainty on external account and absence of major triggers caused stocks to slump. The day started on a pessimistic note after an accountability court issued bailable arrest warrants for Finance Minister Ishaq Dar for failing to appear before the court in connection with NAB’s reference pertaining to assets beyond means.
Intermarket Securities said in its daily report that the overall gloomy sentiment took a turn for the worst amid additional news flow suggesting further headwinds for the cement sector.