05-25-2008, 04:16 AM
<b>Billions wiped off on KSEâs âblack Fridayâ</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->But nervous investors have been moving out of the equities since mid-April. The index has shed 2,664 points or 17 per cent of the value in just 24 sessions since the current meltdown began. From its dizzy height of 15,676 points on April 18, the index dived to 13,012 points on Friday. In the process, a cool sum of Rs1 trillion ($13 billion) have been wiped off the market capitalisation.
<b>The free fall of equities on Friday was exacerbated by the critical statement from PPP co-chairman Asif Ali Zardari regarding President Musharraf, evidencing fissures in the relationship between the presidency and PPP,</b> which otherwise were perceived to be smooth going.<!--QuoteEnd--><!--QuoteEEnd-->
<b>The free fall of equities on Friday was exacerbated by the critical statement from PPP co-chairman Asif Ali Zardari regarding President Musharraf, evidencing fissures in the relationship between the presidency and PPP,</b> which otherwise were perceived to be smooth going.<!--QuoteEnd--><!--QuoteEEnd-->