KARACHI: Due to political upheaval set in motion by JIT report apropos the money laundering case against the PM and his family, the bourse here today has heard bears growling loud making stock market experience the worst day since 2009.
Agonized shareholders saw the cascade happening. KSE 100 Index lost 4.65% ending at slightly over 44,120 points by the close of trading.
As soon as the reality of JIT reality sunk in the KSE index dipped 2.83% by 9.35AM. After 90 minutes (sources informed at 11AM) a drop of 3.53 percent was recorded.
MINISTERS REJECT JIT REPORT THAT TELLS THE SUPREME COURT:
1) Sources of income do not justify the assets that Sharif Clan owns, particularly when their businesses are going in the red.
2) Many documents submitted, including the mysterious Qatari letter, have failed to satisfy the JIT.
3) National Accountability Bureau should probe the Sharif Clan property.