Boars continue to rule PSX, index loses 1000 points in two days - Hum News

Boars continue to rule PSX, index loses 1000 points in two days

June 25, 2019

KARACHI: The Pakistan Stock Exchange (PSX) witnessed another dull session on Tuesday as bears continued to dominate the bourses with the benchmark 100-index losing over 480 points to trade at 34,190.62 points.

In two trading sessions (Monday and Tuesday), the benchmark 100-index has lost over 1000 points. The trading session witnessed the day’s high of 34,471.95 points to dip at the day’s low of 33,984.60 on Tuesday. Trading has been suspended in the stock market as shares witnessed a nose-dive price offer from investors.

A total of 106,958,670 shares worth Rs3,760 million were traded as investors remained wary of market conditions as event-driven players kept their capital close to their chest. Repeated statements by government functionaries and economic teams have failed to lend confidence to investors who remain sceptical of the economic condition of the country.

The remained jittery on Monday with the benchmark KSE-100 index shedding 678.16 points or 1.97%.

Pakistan is facing the dual deficit of current and fiscal accounts as the government is struggling to overcome the ballooning balance of payments crisis.