Share prices shed value at Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) on Tuesday witnessed negative trend following the Monetary Policy Committee’s (MPC) decision to keep the policy rate unchanged at 12pc, shattering the expectations of investors who were waiting to see a handsome rate cut, reported 24NewsHD TV channel.

The benchmark KSE-100 index closed at 114,177.69 points after losing 178.69 points or 0.16 percent at the close of the trading.

Earlier on Monday, the PSX started the week with a volatile session. The KSE-100 index closed slightly lower by 42 points, as investors remained cautious ahead of the decision about the key policy rate. 

It must be noted that the index was closed at 114,356 points yesterday after losing 42 points.

An economic, an analyst said that “stocks closed flat amid uncertainty over outcome of Pakistan-IMF talks” following reports that IMF opposed the government’s move to borrow from commercial banks to resolve circular debt.

He said that foreign outflows, weak rupee and an expected surge in CPI inflation played a catalyst role in the bearish close.

Reporter: Basim Iftikhar