KARACHI: Bears took charge of the Pakistan Stock Exchange (PSX) on Monday,with the indices failing to sustain gains accumulated in early trade andclosing in the red.
Global equity markets, on the other hand, displayed a positive trend,whereas crude oil prices slipped lower from the previous close; WTI oilprice falling 1.21pc to $40.11 while Brent crude price declining 1.05pc to$42.40.
“The market braced the impact of the FATF’s Asia Pacific Group decision tomaintain Pakistan’s position on ‘Enhanced Follow-up List’, which wasprimarily an evaluation based on Pakistan’s performance as of February2020,” said a report issued by AHL Ltd. “The index, which started the daypositively, all of a sudden felt quite heavy to retail investors, whoconsidered it best to book profit and close positions.”
