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KSE-100 loses 403 points amid political uncertainty, likely intertest rate hike

KSE-100 loses 403 points amid political uncertainty, likely intertest rate hike

Business

The stocks closed at 40,323.45 points on Friday last

KARACHI (Web Desk) - Bears prevailed at the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 index dropped below the 40,000 points mark.

The index lost 403.28 points, or one per cent, to reach 39,920.17 points at 12:29pm.

Market analysts have attributed the decline in stocks to political and economic uncertainty and an expected increase in the policy rate.

The stocks closed at 40,323.45 points on Friday last.