Pakistan's KSE 100 Falls 13% In March-June, Sensex Down 8%
On a year-to-date basis, KSE 100 is down 17.12 percent while Sensex has fallen 15.38 percent so far in 2020.
Jun 30, 2020 / 05:11 PM IST
The Karachi Stock Exchange 100 (KSE 100) index has fallen 13 percent since March, underperforming India's Sensex that has dropped 8.34 percent in the four-month period marked by the upheaval caused by the coronavirus pandemic.
The KSE 100 is a capitalisation-weighted index and consists of 100 companies representing about 90 percent of the market capitalisation of the Pakistan Stock Exchange.
Pakistan reported its first COVID-19 case on February 26, 2020. Consequently, the index dropped 37 percent, touching a low of 27,200 on March 25, from the 52-week high of 43,218 points on January 13, 2020.
The all-time high to March low drop for Nifty was 38.8 percent (from 41,952.63 on January 14, 2020 to 25,638.90 on March 24).
On a year-to-date basis, KSE 100 is down 17.12 percent while the Sensex has fallen 15.38 percent so far in 2020.
Other global indexes such as the Dow Jones Industrial Average and China's SSE Composite have returned 1-2 percent between March and June, while Brazil's BOVESPA, France's CAC 40 and UK' FTSE 100 are still trading in the red when compared to their March levels.
On June 29, four armed militants stormed the Pakistan Stock Exchange building in Karachi, killing four security guards and a police sub-inspector.
Despite the gruesome attack, Pakistan's top benchmark KSE 100 jumped 400 points from the day's low. The jump was registered after the local media reported that the attackers were shot dead by security forces.