Karachi Stock Exchange plummets 500 points

KARACHI : The Karachi Stock Exchange benchmark 100 index plummeted over 500 points on the back of the supreme court order to arrest prime Minister Raja Pervez.

Financial Correspondents analyzing the situation said that the market had opened with a negative sentiment on the back of Tahir-ul-Qadri's Long March in Islamabad, and the Supreme Court order put the market into a slide.

With the financial markets in a spin Forex prices have also spiked, with the US Dollar touching the Rs. 99 mark.