More than RS 356 billion investors sank on the market because of recession
The Pakistani stock market is in the grip of the worst decline in the past week. The total volume dropped from Rs 79 trillion to close at the lowest level of Rs 75 trillion.
According to stock experts, new money budget news in Pakistan, the increase in the global price of crude oil, coal and other commodities, raised interest rates based on monetary policy to 1.5 percent, not 1 percent and increased the policy level in the second week of December. After the implementation of all conditions including power tariffs, petroleum products and interest rates by Pakistan, the announcement of the Agreement recovery by the IMF has only created anxiety among IMF investors. Investors reacted negatively to the elimination of RS 350 billion tax exemption, strict conditions such as reducing government expenditure and an increase in interest rates of more than 1 percent, which have caused a market decline. The Pakistani Stock Exchange (PSE) was in a deep decline for four days last week, where the index lost 2553.66 points. However, the index only managed to recover 178.41 points.
The index had touched the highest 46602.59 points at one point during the trade last week on the market. The KSE 30 index fell from 18037.74 points to 17034.02 points while the KSEL stock index fell 31328.08 points. Closed at 30302.34 points.
Because of the decline, investors in the market slumped RS. 195,174 million shares worth RS. 8 billion is traded.
A total of 1709 companies traded on the Pakistani Stock Exchange last week, where 491 companies witnessed an increase in their share price, 1136 witnessed a decline and 82 companies witnessed a stabilization in their stock prices. In terms of turnover, TRG PAK LTD. L Property, Treat Corporation, G3 Technology, Telecom World Calls, Telecard Limited, Pak Refinery, First National Equity, Ghani Global, Petrol Heskol, Fuji Foods Limited, Hub Power Company, Madaraba Mall and Ayesha. Steel occupies the list.
