Bloodbath at PSX as KSE-100 index plummets over 2,000 points
KARACHI – Pakistan Stock Exchange (PSX) Thursday witnessed a bloodbath session as series of outrageous economic indicators, including widening trade deficit, shattered sentiments of investors.
The benchmark KSE-100 index dropped by 2,134 points or 4.71 percent, showing worst performance since March 2020 when it fell by over 6%. The market closed at 43,234 points after the massive bearish trend.
Cements sectors faced heavy blows due to massive selling pressure, with Lucky, Maple Leaf, DG Khan and Cherat Cement all closing at lower circut. Of the 366 scrips traded in the day, 335 faced losses.
Arif Habib Limited in its analysis held trade deficit of $5.1 billion in November, and expected hike in interest rate in the upcoming policy rate responsible for the carnage at PSX.
“We expect the market to remain volatile and recommend cautious approach,” the company said in a statement.
PML-N President Shehbaz Sharif held PTI government responsible for stock market crash, saying it all happened due to poor economic policies of the government.
He recalled that PML-N had warned the government that widening trade deficit and higher policy rate will damage the economy.
PSX bags first Best Islamic Stock Exchange Award ... 09:45 PM | 14 Sep, 2021
KARACHI – The Pakistan Stock Exchange (PSX) Tuesday achieved the Best Islamic Stock Exchange Award 2021 by Global ...
- Pakistan’s ‘biggest financial scam’ unearthed08:06 PM | 24 Jan, 2022
- ‘Agay Dekh’: PSL 7 anthem featuring Atif Aslam, Aima Baig released07:54 PM | 24 Jan, 2022
- Coke Studio 14: Twitter reacts to Atif Aslam and Momina Mustehsan’s ...07:20 PM | 24 Jan, 2022
- Zahir Jaffer’s fingerprints not found on weapon used to murder Noor ...06:54 PM | 24 Jan, 2022
- Shaista Lodhi's dance video goes viral05:25 PM | 24 Jan, 2022
- Yasir Hussain shares his stance on second marriage04:40 PM | 24 Jan, 2022
- Who has scored most runs in Pakistan Super League? Here’s list of ...01:52 PM | 15 Jan, 2022
- Where does Pakistan stand in world's most powerful passport list in ...11:27 AM | 13 Jan, 2022
- Pakistan’s Top News Moments of 202110:47 PM | 31 Dec, 2021
- Famous Figures We Lost in 202107:03 PM | 31 Dec, 2021