PSX weekly review shows decrease of 1,354 points
- By Anjum Wahab -
- May 14, 2022
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish trend throughout the week and lost 1,354 points during the trading week, ARY News reported on Saturday.
The 100-Index was closed at the level of 43,486 points during the trading week which began on Monday and ended on Friday.
According to the weekly report, 1.3 crore shares worth Rs40 billion were traded during the week and the market capitalisation witnessed a decrease of Rs224 billion last week and was recorded at Rs7,199 billion.
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On Monday, Pakistan Stock Exchange (PSX) fell like a house of cards and lost over 1607 points owing to growing uncertainty over talks with the International Monetary Fund (IMF) for the release of US$1 billion tranche.
The KSE-100 index lost 1607 points during the early hours on the first day of the week and fell below the 44,000 mark. The PSX traded at 43,233 after the decline.
Earlier, Pakistan Tehreek-i-Insaf (PTI) spokesperson on finance Muzzammil Aslam claimed that the IMF has deferred meeting with Pakistan authorities for release of US$1 billion tranche until May 18 and is demanding a hike in petrol and diesel prices.