Karachi: Pakistan stocks fell on news of stalled talks between Pakistan and the IMF on circular debt, the government’s borrowing of 257 billion rupees at 20 percent interest rate and fears of a sudden departure from schedule in the base interest rate of 2 to 2.5 percent. The exchange traded lower on Thursday, with the index falling back to the psychological level of 41,000 points.
According to Express, 69% share prices fell due to the downturn, while 56 billion 5 crore 10 lakh 61 thousand 251 rupees of investors were lost.
An air of uncertainty on the political horizon from PTI’s Jail Bharu movement left investors disillusioned, which is why the rally at one point in the business session was limited to a gain of 36 points, followed by cement refinery IT and Intensity of selling in oil and gas sectors led to a decline of 394 points at one point, but in the closing moments, buying activity at lower prices reduced the intensity of the decline.
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As a result, at the close of business, the KSE 100 index closed down by 329.09 points at 40773.31 points, while the KSE 30 index decreased by 120.29 points to 15407.99, the KMI 30 index decreased by 755.44 points to 70091.19 and the PSX The MI Index closed at 19547.30, down 169.25 points.
The business volume was 23.54% less than Wednesday and a total of 15 crore 264 thousand 321 shares were traded, while the scope of business activities was limited to the shares of 319 companies, in which 75 increased in price, 220 decreased in price and 24 decreased in price. There was stability.
Among the companies whose share prices increased significantly, the price of Goodluck Industry increased by Rs 50 to Rs 1000 and the price of Khyber Tobacco increased by Rs 27.53 to Rs 394.65 while the price of Bhaniro Textile decreased by Rs 78.84 to Rs 1100.01 and the price of Reliance Cotton. 45 rupees reduced to 600 rupees.
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