Business
PSX loses 850 points
PSX on Tuesday lost over 850 points due to which the investors had to bear loss of billions.
Karachi: The Pakistan Stock Exchange (PSX) on Tuesday lost over 850 points due to which the investors had to bear loss of billions.
The investor trust has been harmed in part because of the ongoing demonstrations against the excessively high electricity bills, as it is now considerably more challenging to collect the debt owed by power distribution companies.
Because of this, the energy sector is leading the market downturn, but commercial banks, cement, chemicals, and the automotive industry are also under pressure.
No relief from inflation, on the other hand, is one of the factors contributing to fear since, if this trend continues, there will be no improvement in the cost of production, the cost of conducting business, or the level of domestic consumption.
The KSE-100 Index has so far during the session slid to a low of 46,598.23 and a high of 47,372.08, indicating that the market is now below the 46,000 thresholds.
The KSE-100 Index had a Monday closing value of 47,478.61.