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Another meltdown at PSX as benchmark plunges 1,000 points on govt's indecision

Salza

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The Pakistan Stock Exchange (PSX) witnessed intense selling pressure on Wednesday as the benchmark KSE-100 index shed nearly 1,000 points during intraday trading, two days after it lost almost 1,500 points.

According to the PSX website, the KSE-100 Index opened at 43,504.36 points. By 1pm, it had slid nearly 1,000 points, or around 2.28 per cent, to 42,513.78 points.

Raza Jafri, head of Equities at Intermarket Securities, said urgent decisions were needed from the federal government. "The government has been dragging its feet so far which is eroding investors' confidence and leading to panic selling."

The market, he emphasised, needed the International Monetary Fund program to resume quickly to find a foothold. "If the programme continues to be delayed, buyers will continue to shy away," he added.


Meanwhile, First National Equities CEO Ali Malik blamed the political uncertainty for the slump in the market.

"The rate of return on fixed income has reached 14pc. If it expands, the market will recover faster from here. At present, our market is cheap in terms of profit in the whole region, but the confidence of investors is not high due to the domestic situation," he said.

Today's decline comes two days after the PSX witnessed a meltdown during which the KSE-100 lost 1,447.67 points.

Share prices nosedived as investors expressed worries about the country’s debt repayment capacity amid depleting foreign exchange reserves.

 

Salza

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Fakie @Desprado is happy another day for imported govt in power.

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Its such a shame that PM is out in London to meet his brother while stock exchange bleeds for third consecutive day.

Situation is seriously getting bad for Pakistan economy. Current imported govt is hesitant to make any tougher decision. Catch 22 situation for them. Question is have neutrals realized their blunder ?
 

koolio

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Fakie @Desprado is happy another day for imported govt in power.

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Its such a shame that PM is out in London to meet his brother while stock exchange bleeds for third consecutive day.

Sher has come back in power, his brother Showbaaz is just a shadow prime minister, since donkeys and count Dracula minions have no shame in defending the ultra corrupt, for them this is just normal.

The longer the imported government stays in power expect more damage to Pakistani economy, its all thanks to fcuked up establishment.
 

TechMan

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یا اللّٰه اسٹاک مارکٹ چک لے
یا فیر مینوں چک لے


20220511_113649.jpg
 

jupiter2007

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PDM are the economic hitmen and won't take another few months to completely bankrupt Pakistan.

Establishment is helping PDM and imported government to bankrupt Pakistan. Whole plan is to Denuclearize Pakistan. Top army leadership will get free Australian citizenship to join General Kayani in Australia.
 

AZ1

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Queen calibiri has admitted imported government screwed up the economy in a very short time. 🤔
yup basically their bughz let them down.

Everything is reverted to them now.

While zardari is enjoying saying dont increase petrol price so if pmln does its their lost and ppp will say we said dont increase the price but pmln didnt listen


Really pmln walo ko zardari kha jayega aun ko pata bhi nahi lagayga lol
 

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