Karachi: On the first day of Ramazan, the Pakistan Stock Exchange (PSX) experienced a significant decline, dropping over 1,000 points and slipping below the 65,000 benchmark. Despite the formation of the government, the PSX 100 index struggled to maintain stability.
Investors showed unwillingness to engage in trading, resulting in lower-than-usual market activity. The market closed with a decrease of 953 points, settling at 64,801 points after briefly touching a high of over 66,100 points earlier in the session.
Analysts attributed the decline to various factors, including weak global equities and concerns about economic uncertainty.
Additionally, there’s anxiety surrounding the upcoming monetary policy announcement on March 18 and the outcome of negotiations between the newly elected government and the IMF.