On Friday, the benchmark KSE-100 index fell as soon as trading got underway, sending stocks into the red. At 9:30 am, the KSE-100 index was down 229.61 points, or 0.55 percent, to stand at 41,861.10 points.
Raza Jafri, the head of equities at Intermarket Securities, noted that the market started out weakly as was to be expected following yesterday’s attempted assassination of former prime minister and PTI Chairman Imran Khan.
“Volumes are thin as investors wait for more clarity. The near-term outlook depends on if political polarisation intensifies from here on, or if cooler heads prevail and tempers are scaled back,” he commented.
Amir Shehzad, a director at First National Equities Limited, also blamed Imran’s attack for the stock market’s decline. He added that the market might rebound because the economy was “comparatively better” and the PTI had not before called on its workers to use violence.
According to Shehzad, the market would probably move toward improvement unless there was unrest because the cement sector was performing extremely well and many favorable outcomes were anticipated during the Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-planned Saud’s visit. A day earlier, Imran was shot at and injured when a suspect, standing in front of the container carrying the PTI chief and senior party leaders, showered a volley of bullets with an automatic pistol when the party’s ‘Haqaaqi Azadi’ march reached Wazirabad’s Allahwala Chowk.
Muazzam Nawaz, a PTI supporter, was later found to have died, while 14 party officials, including Senator Faisal Javed Khan, MNA Ahmad Nasir Chattha, and Omer Mayar, were among the injured.
Imran Khan, the chairman of the PTI, was reported to be stable and sent to the Shaukat Khanum Cancer Hospital in Lahore after suffering multiple bullet wounds to his leg.
The PTI chairman later claimed to be in good health following his operation in Shaukat Khanum and underlined his resolve to see the long march through to Islamabad. He was quoted as adding that the march would resume from Wazirabad on Friday at 11 a.m. (today).