Pakistan Stock Exchange suffers worst month of trading in seven years
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KARACHI: The Pakistan Stock Exchange (PSX) endured its worst month of trading in seven years as continuing political and economic uncertainty plagued the market in August.
The KSE-100 index reported its biggest monthly decline since May 2010, falling 10.4pc to reach 41,207 points, its lowest level for 2017. And this was the worst August performance recorded in nine years by the PSX since 2008.
Stocks on the KSE-100 index got battered in the wake of a massive fine imposed by a US regulator based in New York of $630m on Habib Bank Limited (HBL), worsening Pakistan-US relations and planned secondary public offering of Mari Petroleum.
Major losers for the week were reported to be HBL whose stocks declined 18.55pc, Lucky Cement 15.38pc, Mari Petroleum 14.51pc, UBL 6.37pc and Engro 12.75pc.
