Stock market slips further to lowest position in the week

KARACHI: The Pakistan Stock Exchange (PSX) continues to deteriorate, with Thursday’s (yesterday) session bringing a decline of nearly 150 points. On Friday (today), the index opens at 77,740.30 points, lowest so far in this week.

On Monday, in anticipation of the new monetary policy, the benchmark KSE-100 index posted modest gains. However, since then, investor sentiment continues to erode in the stock market.

Stock market continues to decline

Part of this downturn can be attributed to the political uncertainty surrounding the country, since Supreme Court’s reserved seats verdict.

Furthermore, the rate of inflation continues to remain high as opposed to expectations, along with deterioration in the foreign currency reserves due to heavy debt payments. Put together, the instability in the economy and uncertain political situation are having its toll on the bourse as well causing fluctuations.