KSE-100 plummets, closes at 33,971 points
The rupee depreciation would badly impact earnings of the companies listed at the PSX.
Karachi (Dunya News) – In the latest round of rupee depreciation on Thursday continued to hammer stocks as over 700 points were lost in intra-day trading; however the benchmark KSE-100 Index gained 320 points and closed at 33,971 points at the end of the day.
The fresh devaluation prompted renewed selling as investors reacted with panic to the latest development.
The rupee depreciation would badly impact earnings of the companies listed at the PSX.
The move would also narrow down return on investment in stocks or turn it negative going forward, according to analysts.
