KARACHI – Pakistan Stock Exchange lost Rs 700 billion in 2018, it has beenrevealed in a report.
Stock Exchange is widely regarded as a barometer of the country’s economy,in 2018 dented investors’ confidence following modifications in politicaland global economic condition.
Foreign investors approximately offloaded $500 million share this year.
The year started with PSX 100 index at 40,471 points, and lost more than2,000 points.
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Share prices of different companies declined more than Rs700 billion.
“We are facing current account and fiscal deficit therefore foreignreserves are depleting, the government has compromised on the GDP growthand our forecast for FY20 is 3 or 3.5 percent. Whenever, there is slowgrowth in the economy, the market never outperformed, we can see indexlevel between 42,000 to 45,000,” said Saad Hashmi, research director forTopline Securities.
