Wednesday, August 17, 2022

Downward trend continues in PSX as 100-index falls 800 points


KARACHI: The Pakistan Stock Exchange (PSX) benchmark KSE 100-share Index has lost 800 points at the start of the first day of the trading week on Monday.

As the trading commenced, negative trend continued to haunt the market as the 100-Index has recorded a decrease of 800 points and currently trading at the level of 32,358 points.

The trading at the Pakistan Stock Exchange (PSX) is showing downward trend amid speculations of a much-awaited announcement regarding the International Monetary Fund’s (IMF) agreement with the state of Pakistan.

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 have 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.


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