KSE-100 sees selling pressure amid inflation concern

KARACHI: The KSE-100 was on the backfoot on Wednesday as investors, concerned over inflation outlook and the appointment of the caretaker cabinet, resorted to offloading their holdings.

A few minutes before the end of trading, the KSE-100 was hovering at the 48,148.91, a fall of 416.84 or 0.86%.

Fares hike following petroleum price surge

Euphoria over the International Monetary Fund (IMF) programme and breathing space provided by inflows from the UAE and Saudi Arabia has led to the KSE-100 Index gaining over 15% in a little over one-and-a-half months.

However, a massive 15% increase in the price of petrol over the last few weeks, and high inflation outlook dimmed positive sentiment at the Pakistan Stock Exchange (PSX).