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Pakistan's stock market sees biggest single session decline in 5 months
Last Updated: 2022-05-10 00:08 | Xinhua
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The Pakistan Stock Exchange (PSX) reported the biggest single session decline in five months on Monday as investors showed restraint amid uncertain capital inflows and constant depreciation of the local currency.

The PSX's benchmark KSE 100-Index declined by 3.2 percent, or 1,447 points, to close at 43,393.14 points on Monday.

Last week, the stock market only had one trading session on Friday due to public holidays on the occasion of Eid al-Fitr from Monday to Thursday.

Muzzammil Aslam, director with Tangent Capital Advisors, told Xinhua that "the main cause of the downward trend is the delay of the country's decision on the resumption of the International Monetary Fund (IMF)'s program."

According to Aslam, uncertainty related to the IMF's program is influencing the local currency along with other factors and resultantly affecting the stock market.

The trading board presented a red look on Monday as the KSE All-Share Index dipped by 3.01 percent, or 890.11 points, to end at 29,590.19 points.

The KSE 30-Index decreased by 3.76 percent, or 622.05 points, to close at 16,526.48 points, and the KMI 30-Index moved down by 4.22 percent, or 2,956.67 points, to conclude at 70,032.84 points.

Meanwhile, the Islamic All-Share Index fell by 3.79 percent, or 806.52 points, to finish the trading session at 21,280.55 points. 

(Editor:Fu Bo)

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Pakistan's stock market sees biggest single session decline in 5 months
Source:Xinhua | 2022-05-10 00:08
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