Friday December 03, 2021

Mixed Trend Witnessed At PSX

Karachi: The Pakistan Stock Exchange witnessed mixed trend Friday after it lost 197 points in the KSE-100 index. The market, in the first half of the day, closed at 43,037 points.

The market has declined for the second consecutive day. On Thursday, PSX reported its largest single-day decline in 2021 and the third largest in history. The KSE-100 index lost 1,936 points costing investors a whopping Rs332 billion.

According to economists, one of the main reasons for the market tumble is Pakistan’s import bill, which reached $8 billion in November — the highest level of any month.

The trade deficit has reached $5.107 billion in November. According to the provisional data released earlier this week, this is the highest trade deficit recorded in a single month.

Experts believe that the government could control and reverse market losses by immediately reducing imports because it was unlikely to succeed in increasing exports.

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