Bearish trend continues in PSX as 100-Index falls 255 points

KARACHI: The Pakistan Stock Exchange (PSX) benchmark 100 Index on Tuesday continued to show a downward trend as the 100- Index lost 255 points at the start of the trading.

Pakistan’s capital market is showing bearish trend ahead of the presentation of the federal budget for FY20.

The 100-Index has dropped down at the level of 34,312 points.

PSX benchmark 100-Index recorded a decrease of 937.74 points, or 2.64%, to settle at 34,567.55 on Monday. Such a level was last seen on May 2, 2016.

The traders rather than buying the share were more interested in selling them amid lingering doubts over economic instability in the country.

Meanwhile, few economists are optimistic that this will be a transitional phase towards good days, but for now high inflation, low industrial and agricultural output, unemployment and poor corporate earnings all are affecting the PSX.

Read more: Downward trends continue to haunt PSX, sheds 320 points

Sources said Pakistan has adopted stringent demands under the International Monetary Fund (IMF) $6 billion bailout package.

According to economists, the PTI-led government will need to perform vigilantly and persistently to recover from the economic crisis.