Stocks extend rout as outlook dampens

 Stock market slumps over economic losses from floods
 Tanveer Malik, journalist

 News of heavy economic losses due to floods in Pakistan had a negative impact on the stock market on Monday as the market witnessed a sharp bearish trend since the opening of business.

 In the first half hour of trading in the stock market on Monday, the market index saw a decline of more than 450 points.

 According to stock market analysts, the negative impact of the damage caused to the country's economy due to floods is being seen in the stock market.

 According to local media, Pakistan's Finance Minister Miftah Ismail has estimated the damage to the country's economy due to the flood at ten billion dollars.

 According to analysts, investors are cautious about buying due to the decline in the country's economic indicators due to floods.