Second successive bearish day in PSX, index falls below 78,000 mark
Business
The KSE-100 index fell 530 points to 77,938 points at around 11 am
KARACHI (Dunya News) – Bears continued to rule the Pakistan Stock Exchange (PSX) for the second successive day on Friday.
The fifth and last day of the business week saw a sharp bearish trend in the PSX with the KSE-100 index trading at 77,938 points after declining 530 points at around 11 am.
A day earlier, the stock market saw a 927-point decline and closed at 78,469 points.
Experts saw the stock market’s “across-the-board downturn” a result of political uncertainty.
They are of the opinion that investor concerns about a settlement of $15 billion due to Chinese IPPs, a surging power tariff impacting industrial earnings, political wrangling over ban on opposition, and a weak rupee led to fall.
US DOLLAR
Meanwhile, there has been a decrease in the value of the US dollar to Pak rupee in the interbank trade.
The US currency depreciated by 6 paisa to Rs278.35.
