Karachi
The Pakistan Stock Exchange (PSX) snapped the two-day winning streak on Monday amid uncertainty regarding resumption of the International Monetary Fund’s (IMF) $6 billion Extended Fund Facility (EFF), with the benchmark KSE-100 Index shedding 192.08 points (-0.43 percent) to close at 44,629.45 points.
Other reasons for the bearish trend included massive depreciation of Pakistan rupee against the US dollar during the day, as the rupee broke all the record for all-time low to close the day’s trade at 172.78, and increase in petroleum prices by up to Rs10.95 per litre and power tariff by Rs1.29 per unit.—TLTP
