Pakistan Stock Exchange faces yet another blow

Pakistan Stock Exchange faces yet another blow

KARACHI - Pakistan Stock Exchange (PSX) faced yet another major decline on Friday.

KSE-100 index shed some 880 points to close at 37517.93 points level at the end to trading on Friday, the last trading day of the week.

Except for a brief period at the start of the trading, the market remained in the red zone throughout the day.

The market battering was triggered by reports on risks over Pakistan Stock Exchange’s exclusion from MSCI emerging market on failing to meet MSCI EM free float rules in the MSCI EM annual review by Jun’19. ------------------------------

Following a brief stay in the positive territory, the index continued its journey towards the south, falling below 37,550 points. The concerned investors found no respite except to offload the stocks. The selling pressure was witnessed in stocks across the board.