PSX Suffers Massive Crash Again
Pakistan Stock Exchange (PSX) fell sharply on Monday as political uncertainty surrounding the federal government's emergency decision in Khyber Pakhtunkhwa (KP) weighed on investor sentiment.
Pakistan Stock Exchange (PSX) fell sharply on Monday as political uncertainty surrounding the federal government's emergency decision in Khyber Pakhtunkhwa (KP) weighed on investor sentiment.
Article outline
- What happened
- The key numbers
- The details
- A closer look
- More on the story
- The bottom line
Key points
- The KSE-100 Index dropped 1, 920 points during the session before closing at 165, 124, down 1, 964 points or 1.18 percent.
- TREET 24.09 25.38 23.35 0.37 27, 311, 850.
- PIBTL 13.61 13.99 13.25 0.09 12, 567, 094.
- CNERGY 12.41 12.65 12.3 -0.11 14, 450, 611.
- PRL 93.45 94.6 91.5 0.38 16, 632, 005.
For context, the KSE-100 Index dropped 1, 920 points during the session before closing at 165, 124, down 1, 964 points or 1.18 percent. Rupee Hits 276 Against US Dollar First Time in 3 Years.
For context, the decline followed President Asif Ali Zardari's approval on Sunday of the federal cabinet's recommendation to impose an emergency in KP. The decision continued to political uncertainty, prompting investors to reduce their exposure to stocks, stated Topline Securities in a brief review.
Selling remained widespread as market participants stayed cautious against the backdrop of worries over the developing political situation and a lack of positive triggers.
United Bank Limited (UBL), Oil and Gas Development Firm (OGDC), Habib Bank Limited (HBL), Meezan Bank (MEBL), and Lucky Cement (LUCK) were among the biggest losers. Together, these stocks pulled approximately 645 points off the benchmark index.
Trading activity remained subdued, with around 363 million shares changing hands at a traded value of approximately Rs. 14.5 billion.
TREET topped the volume chart, with around 27 million shares traded during the session. SCRIP PRICE HIGH LOW CHANGE VOLUME.
LSEFSLR 1.19 2.4 1.19 -1.0 20, 828, 653.
WTL 0.97 0.99 0.96 -0.02 20, 349, 561.
WAVESAPP 7.74 8.0 7.56 0.05 19, 790, 254.
PIBTL 13.61 13.99 13.25 0.09 12, 567, 094. Stay Connected with ProPakistani.
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Taken together, the developments around PSX Suffers Massive Crash Again point to a situation that is still moving, and the coming days should bring more clarity.
