Tuesday June 28, 2022

PSX Sheds Over 100 Points

KARACHI: The bears staged a comeback at the Pakistan Stock Exchange (PSX) as tough economic conditions let the market to trade in range-bound, closing the day with a loss of over 100 points.

Positive news regarding the receipt of the Memorandum of Economic and Financial Policies (MEFP) from the International Monetary Fund (IMF) for the seventh and eighth reviews coupled with the recovery of the Pakistani rupee against the US dollar failed to entice the market players who opted to remain on the sidelines.

The stock market traded between hope and despair, which eventually let loose the bears who dragged the bourse into the red.

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