Pakistan Stock Exchange crashes over reports of FATF blacklisting
*KARACHI: *The Pakistan Stock Exchange (PSX) was surrounded by dark clouds on the last trading session of the week, as investor sentiments were shaken following news reports regarding Pakistan’s position on the Financial Action Task Force (FATF) list.
On the economic front, Pakistan’s total foreign exchange reserves dipped slightly to $15.60 million (as on August 17, 2019) from $15,578 million a week earlier.
Gaining 216.11 points, the index recorded its intraday high of 32,100.56 soon after the commencement of the session. The index then drove in the reverse direction, reaching its day’s low at 31,225.06 after shedding 659.39 points. It finally closed lower by 534.44 points at 31,350.01.
The KMI-30 Index dropped 849.18 points to settle at 49,876.08, while the KSE All Share Index lost 258.19 points, ending at 22,940.49. The advancers-to-decliners ratio was recorded at 122-to-177.