The Pakistan Stock Exchange dropped by a thousand points, or 3 per cent, to close at 32,650 on Tuesday as traders continued to face uncertainty amid the recent health crisis.
The market increased to 33,894 points in the first eight minutes of trading but failed to maintain its momentum and dropped by 1,268 points. At the end of the day, however, the market recovered slightly.
Today’s bearish management notes a 20pc decline in the current year and the market lost 25pc from its supply on January 13. AKD Securities Research’s deputy head, Ali Asghar Poonwala, while speaking to Dawn.com about the day’s events, said the market is ” a sign of a catastrophic disruption as a decline in broadband services – including central banks, E&Ps and cables – felt the burden of a global supply chain disruption, demand for home depreciation and unusual monetary expectations “. Monetary policy is expected to be announced soon today.