*KARACHI – Karachi Stock Exchange crashed on Monday facing the worst blowof the year.*
*The capital market nose dived to a 10-month low.*
KSE-100 Share index plunged 3.4% to below 38,000 points after shedding morethan 1,300 points by 2:30pm. This was the largest single-day fall in thelast 14 months, dragging the index down to its lowest level in 10 months.
Analysts say the government’s inability to take key economic decisions,such as deciding on the IMF bailout and political tensions were the mainreasons. First the government delayed the IMF program and then theopposition leader was arrested.
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The KSE-100 index, the gauge of the market’s performance, had already lost4.3% at the end of the previous week, losing 861 points during Friday’ssession alone as news of Shehbaz Sharif’s arrest by NAB reached. Monday’strade shaves off a combined 7% of its value.
