Shares at PSX lose over 500 points
Business
The KSE-100 index lost 719.12, or 1.12 per cent, at 11:04am to stand at 63,550.25
KARACHI (Dunya News) – The shares at the Pakistan Stock Exchange (PSX) lost more than 500 points on Tuesday.
Read more:PSX crosses 66,000 mark on the heels of economic recovery
The KSE-100 index lost 719.12, or 1.12 per cent, at 11:04am to stand at 63,550.25.
The index closed at 63,737.46, down by 531.91points, from the previous close of 64,269.37.
Experts said the market was currently grappling with uncertainty in anticipation of the upcoming elections.
On the flip side, they noted certain positive developments such as the reduction in petrol prices, coupled with the sustained strength of the Pakistani rupee, were expected to “mitigate inflation” in the coming months.
Despite a robust rally in the market over the last six months, the prevailing political situation is now prompting a temporary pause, providing the market with an opportunity to recalibrate, they said.
