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Two investors can be seen discussing in front of the digital stock board at the Pakistan Stock Exchange. — AFP/File
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On Monday, the capital market faced a sharp decline, the Benchmark’s SE -100 index sank about 3, 3,900 points between the global market riots and uncertainty on key domestic policy issues.
The Benchmark Index of the Pakistan Stock Exchange (PSX) settled at 114,909.48 points, down 3,882.18 points or -3.27 % from the previous close to 118,791.66.
Earlier in the day, the KSE -100 drowned at an intra -day of 110,103.97, which reflected the amazing reduction of 8,687.69 points, or -7.31 %. Even at the highest point of the 117.601.62 session, the index was closely below 1.1.00 %.
After a decrease of more than 5 % of the market, PSX indicated low locking. In a formal announcement, the exchange states that all the pending orders have been canceled and the trade will resume at 1:03 pm.
Despite the break, the sale pressure resumed after the market reopened, the KSE -100 was more slippery in the red area before he recovered.
Analysts pointed to both external and domestic stimulations for the PSX sharp pullback.
“Investors are reacting to the uncertainty of Trump’s prices, and in particular, it has to result in the US and Asian markets.”
“In addition, some negative emotions also seem to have delayed the finalization of the government’s bank loan plan to fix the power sector’s circular loans.
Also, it does not seem that investors have praised the cuts in electricity prices because a large part of these deductions is about to be temporary, with no adjustment to the base tariff.
Head of Research, Amarin Sorani, said: “The KSE -100 index has seen a significant decline today during market hours, the loss has been more than 3 percent since the start of the session.”
He added, “After the recession period, there are important factors due to the global market malfunction, including concerns about international trade tensions.”
White House officials have shown no mark to withdraw from tariff projects that are submerged in Asia.
Japan’s Nikki sank 6 % for the last time at the end of 2023, while South Korea declined 5 %. Asian Pacific shares outside Japan decreased the wider MScI index by 3.6 %.
Chinese blue chips suffered a loss of 4.4 %, as markets waited for Beijing to respond with more stimulation. Taiwan’s main index, which was closed on Thursday and Friday, became about 10 percent tomb, which led to policy makers overcome short sales.
According to state media, in Saudi Arabia, where the markets were open on Sunday, the competition was 6.78 % less-which was the worst daily loss after the Kovide 19 pandemic diseases.
The recent announcement of Prime Minister Shahbaz Sharif’s recent announcement was doubtful about the announcement of Rs 7.41 per unit reduction in electricity prices, which was initially celebrated as an important step toward economic relief.
RS7.41 Relief error includes per unit from petroleum levy adjustment, Rs.
More than the next quarter adjustment is expected to pay more than the Re1 per unit. With this, with the rest of the tax deduction, the actual tax relief reaches about Rs 5.98 per unit.
Although the relief package was part of Pakistan’s widespread efforts to reform the sick energy sector, investors were precautions between the delay in finalizing the 1.25 trillion bank loan project.
