PAKISTAN STOCK EXCHANGE

OS MB 2023. 12. 27. 00:11
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Pakistan stock market sees record decline in Karachi

epa11044678 A view of a monitor screen showing different stock updates during a trading session at the Pakistan Stock Exchange (PSX) in Karachi, Pakistan, 26 December 2023. Pakistan's stock market experienced its highest single-day decline, with the benchmark KSE100 index plummeting by 2,534 points, marking a 4.1 percent crash and closing at 59,171 points. This drop contributes to an 11 percent decrease, totaling 7,256 points from the peak on 12 December 2023. Financial analysts attribute the bearish trend to a corrective phase in the overheated market, exacerbated by delays in interest rate cuts, increasing political activities ahead of general elections, and foreign investors selling off. Investors are cautious amidst uncertainty surrounding the national polls scheduled for 08 February 2024, and market direction is anticipated to hinge on election outcomes and adherence to International Monetary Fund conditions. EPA/SHAHZAIB AKBER

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