Karachi stock exchange tanks 1600 pts as Pak SC disqualifies Nawaz Sharif

The exchange had opened on a negative note losing 1,100 points hitting a low of 44,757.16

Pakistan Stock Exchange (PSX) cracked over 1600 points intraday on Friday after Prime Minister Nawaz Sharif was disqualified from office by the country’s Supreme Court on charges of corruption in the Panamagate graft scandal. KSE 100 lost over 1300 points (down 2.8%) to 44,586 post the verdict at 3:15 pm (IST).

In intraday trade, the index shed over 1600 points to 44,235 levels. 
 
In a unanimous verdict, the Supreme Court ordered that a case be registered against Sharif and ruled that a reference be sent against him and his family to an accountability court.
 
The 67-year-old prime