KARACHI: On Tuesday, the stock market remained dull and failed to gain some momentum. The downward trend came due to the reservations from the investors about lifting the subsidies and decreasing the budget of development programmes. These steps were taken to fulfil the requirements of the International Monetary Fund for the revival of the bailout programme.
The KSE-100 benchmark index went down by 0.55 per cent or 255.57 points and closed at 45,817.68 points. A decline was also recorded in the trading volume by 43pc. On a day-to-day basis, the trade value dropped to $33.5 million.
According to economic analysts, the rise in oil prices in the international market, rising account deficit, and a hike in circular debt have also played a key role in the decline.