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Shares at PSX lose over 700 points in intraday trade

8 0
08.01.2025

Bears continued their stampede on Tuesday on the trading floor as shares at the Pakistan Stock Exchange (PSX) declined by more than 200 points.

The benchmark KSE-100 index declined 768.80 points, or 0.66 per cent, to stand at 115,486.32 points at 11:04am from the previous close of 116,255.12.

Finally, the index closed at 116,052.68 points, down by 202.44 points or 0.17pc from the last close.

Awais Ashraf, director research at AKD Securities, said, “Investors are concerned about the impact of new government law that stops non-filers from investment in equities, mutual funds and debt instruments.”

However, he said that they did not “foresee this to have some impact as equity markets are well regulated in Pakistan, thanks to FATF [Financial Action Task Force] compliance”.

Furthermore, he highlighted that this was “a good time to enter into the equities as interest rates are anticipated to fall to single digits” due to a strong external account.

“Falling........

© Dawn Business


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