Pakistan Stock Exchange (PSX) remained bearish for the second straight day on Thursday as returns on short-term government papers further increased up to 75 basis points in the latest treasury bills auction, with the benchmark KSE-100 Index plunging 518.13 points (-1.21 percent) to close at 42,237.91 points.
The cut-off yield of all treasury bills went up ranging between 55bps to 75bps in the auction held on Wednesday. The cut-off yield of 3-month short term government securities rose by 75 bps to 15.25pc from 14.5pc in the previous auction held on May 18, 2022.
Similarly, the cut-off yield for the 6-month MTBs remained 15.25pc, up by 55bps, and for 12-month T-bills it increased by 75bps to 15.5pc. Though the rupee has been on the road to recovery against the US dollar for the last five sessions. TLTP