Monday saw a bearish trend at the Pakistan Stock Exchange (PSX) with a significant decline of over 1,500 points in shares. The KSE-100 index dropped by 1.97%, closing at 78,539.18 points, attributed to “heightened political tensions”. This downward trajectory was a result of reports on the potential ban of Pakistan’s largest political party, leading to a negative impact on market sentiment.
Market analysts like Yousuf M Farooq from Chase Securities and Mohammed Sohail from Topline Securities highlighted the influence of political noise and institutional selling on the market. Raza Jafri from EFG Hermes Pakistan mentioned that while the market faced a decline due to political uncertainty, there was cautious value buying observed.
With concerns about political tension and upcoming monetary policy decisions, investors are closely watching the market. However, the anticipation of a positive result season may restore confidence if the political environment stabilizes.
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