KARACHI – The Pakistan Stock Exchange (PSX) benchmark KSE 100-share Indexhas dropped to a 33-month low below 33,800 points on Monday despite of thefact that stocks are available at critically cheap values but buyers arerarely present.
At the end of trading, the benchmark KSE 100-share Index recorded adecrease of 900 points to settle at 33,800 points.
Earlier today, the index rose to 35,135 points with an increase of 418points, however negative trend later dominated the market.
Previously, the index was at 34,326 points. The KSE-100 index maintained asteady downward trajectory throughout the day.
According to analysts, Pakistan’s current state of economy is alike ‘apatient admitted in intensive-care unit (ICU) for treatment.’
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However, a few people are optimistic that this will be a transitional phasetowards good days, but for now high inflation, low industrial andagricultural output, unemployment and poor corporate earnings all arereflecting poorly on the PSX.
Pakistan is believed to have adopted stringent demands under theInternational Monetary Fund (IMF) bailout package.
