Verdict Impact: PSX Loses 1000 Points in Early Trade

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Karachi (July 28, 2017): The benchmark KSE 100-index of the Pakistan Stock Exchange lost over 1,000 points in early trade Friday, as political uncertainty triggered a bearish trend ahead of the much-anticipated Panama case verdict due today.

The index dipped by 1,132 points to hit 44,777 points as of 9:40 am, as the market witnessed a knee-jerk reaction before the Supreme Court of Pakistan announces a judgement that could topple Prime Minister Nawaz Sharif who is embroiled in a long-

The index had closed at 45,905 points on Thursday.

All eyes are on the Supreme Court as the five-member Panama case bench will announce its verdict at 11:30 am today.
PM in or out? Panama Papers case verdict to be announced today

The court had, in April, declared there was “insufficient evidence” to oust PM Sharif over the graft allegations engulfing his family, and ordered a Joint Investigation Team (JIT) to probe the matter.The team of civilian and military investigators comprising the JIT found there was a “significant disparity” between the Sharif family´s income and lifestyle in its report submitted to the court earlier this month.

The Sharifs and their allies have consistently rejected the claims, with the ruling PML-N party this month dismissing the investigation team´s report as “trash”.

Related News:

PM Chairs High Level Meeting Prior to Verdict

Panama Case: Biggest Judgment Ever At 11:30 A.M.

Originally Posted on Abbtak TV

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