KSE-100 index falls below 32,400 points amid dull trading
Pakistan is believed to have adopted stringent demands under the IMF bailout package.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) benchmark KSE 100-share Index has dropped to a 38-month low below 32,400 points at 11am on Monday despite the fact that stocks are available at critically cheap values but buyers are rarely present.
As the trading commenced, negative trend later dominated the market, while the benchmark KSE 100-share Index has recorded a significant reduction of 800 points.
Photo courtesy: https://dps.psx.com.pk/
Meanwhile, a few economists are optimistic that this will be a transitional phase towards good days, but for now high inflation, low industrial and agricultural output, unemployment and poor corporate earnings all are reflecting poorly on the PSX.
The market briefly rallied 1.2pc in the third trading session, as news regarding Kekra-1 well nearing its conclusion surfaced as a glimmer of hope in an otherwise dull market, recouping some of earlier losses.
Pakistan is believed to have adopted stringent demands under the International Monetary Fund (IMF) $6 billion bailout package.
According to economists, the PTI-led government will need to perform vigilantly and persistently to recover from the economic crisis.
