Market Update – Index Down in Early Trade

KSE100 Index fell 350 points in early trade before recovering slightly to be only 231 points 0.85 percent down at 10:15 PST tracking other asian stocks which slid Wednesday, with major indexes declining by more than 1 percent each, as global sentiment remained low on concerns over economic growth, China and low oil prices.

Earlier, the International Monetary Fund (IMF) cut its global growth forecast to 3.4 percent, from 3.6 percent. The organization cited slower growth in emerging markets, especially in China, falling commodity prices, and rising interest rates in the U.S. as potential risks to global growth.