The benchmark KSE-100 lost over 1000 points after opening at 42,069.65. The index had dropped to 40,968.7, breaching February’s 52-week low of 41,031.91. The top bourse appeared bearish from the opening bell and immediately dropped into the red zone.
Markets in Pakistan fell sharply on Friday after the federal government presented its budget with a mix of stabilization measures laced with questionable reforms. Around 112 million shares were traded at the exchange, with 243 of the 307 active scrips declining in value and only 56 advancings.