PSX 100-index lands in minus zone after losing 1300 points
The market witnessed renewed selling pressure from the foreign and local fund houses.
KARACHI (Dunya News) - Pakistan Stock Exchange (PSX) received heavy battering on the first day of the new trading week as the calling of the Federal Minister for Finance Ishaq Dar at the JIT deepened the wounds of the investors.
The 100-index landed in the minus zone and during the session today lost more than 1300 points with index sailing around 45200 points, nearly 14 days low.
The market witnessed renewed selling pressure from the foreign and local fund houses and almost all the blue chips and trading stocks showed minus signs. The volume was on the lower side.
The main reason behind Monday’s decline was the calling of Finance Minister Ishaq Dar to appear before the JIT.
“Till the dust on JIT won’t settle the index to remain in the red column, index couple of times has tried to shrug off the hesitancy but bears strangle their hold to keep the interest low and index to sustain fresh blows,” an analyst said.
Share prices have the potential to gain sharply once some positive happening appear from Islamabad.
(Story by Haris Zamir)
