The Pakistan Inventory Trade’s (PSX) benchmark index KSE-100 started one other week on a low word, crashing greater than 5,400 factors throughout intraday commerce on Monday.
The event led to the market being suspended as per the protocol.
The KSE-100 index declined 5,478.63 factors, or 3.16 p.c, to face at 167,691.08 factors from the earlier shut of 173,169.71 factors at 1:50pm.
This marks at the least the third main meltdown on the PSX previously two weeks, with KSE-100 shedding 5,149.80 factors on February 16 and 6,683 factors — the steepest single-day decline in historical past — on February 19.
Final week, the PSX endured a troublesome week as geopolitical strains between the US and Iran, compounded by home political noise, triggered a major sell-off, pushing the KSE-100 index under the 174,000-point stage.
Analysts have been cautious however hopeful in regards to the market’s near-term path.
AKD Securities believed that geopolitical developments and the result of the upcoming IMF overview mission, as a consequence of arrive subsequent week, shall be essential in figuring out investor sentiment.
Moreover, the company outcomes season could provide some upside, particularly if earnings surpass expectations.
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