PSX opens in the red

KARACHI: The Pakistan Stock exchange (PSX) opened in the red this morning, with the benchmark KSE-100 index declining by 157.87 points or 0.33 per cent as trading began.

After last night’s close of 47,478.61 points, the market was hovering at 47,320.74 points as of 9:40AM.

The PSX has witnessed such openings, with a lack of clear-cut trajectory, over the past few weeks, a testament to the current economic situation in the country.

With the nation still awaiting progress on the caretaker prime minister’s reassurances on curbing the power crisis, trader sentiments are likely to be compromised.

Earlier this week, protestors took the streets demanding action to be taken against exorbitant electricity bills and heavy taxation. The Ministry of Energy and Power Division wrapped up a high-level meeting to address the issue of the escalated electricity bills in response, the decision of which is yet to materialise.

See: Electricity bills: ministry finalises recommendations, decision tomorrow