Stock market down nearly 2,000 points

KARACHI: The Pakistan Stock Exchange (PSX) experienced another day of decline on Thursday, with the benchmark KSE-100 index falling by 356.51 points, or 0.48 per cent, to close at 73,862.93 points.

Friday morning brought another steep downturn for the index. In less than an hour after opening, the benchmark KSE-100 index dropped nearly 2,000 points to hover around 71,863.07 points before 10 AM.

PSX closes below 74,000 as market decline continues

By Thursday evening, the index had lost 2,015 points during the week, representing a 2.7 per cent decrease. Friday morning doubled these losses.

The market’s downward trend is largely attributed to investor concerns over potential increases in Capital Gains Tax (CGT) and dividend tax in the upcoming fiscal year 2024-25 budget.