Stocks tumble after week-long steep rise
Business
After losing 120 points, the KSE-100 index stood at 81,954 points on Monday
KARACHI (Dunya News) – After a week of robust activity at the Pakistan Stock Exchange, stocks tumblied at the start of the week on Monday.
After losing 120 points, the KSE-100 index stood at 81,954 points.
ALL-TIME HIGH
Buttressed by the optimism surrounding prospects of a successful deal with the International Monetary Fund (IMF) after the global lender included Pakistan's name in its board meeting scheduled to be held on Sept 25, the Pakistan Stock Exchange (PSX) witnessed an upward trend this past week.
The stock market broke the 82,000-point barrier after gaining 858 points on Friday last, taking the KSE-100 index to a record 82,317 points.
On the other hand, the greenback continued to depreciate against Pakistani rupee while trading at Rs277.70 in the interbank market after losing Rs0.21.
