KARACHI: Amid the government’s decision to lift subsidies on petroleum products and the change in the outlook of Pakistan by Moody to negative, the Pakistan Stock Exchange (PSX) faces a declining trend. The benchmark KSE-100 index lost 267 points during the early trade, trading at 41,037 points.
On Friday, the index had lost 925 points and traded at 41,312.11 points. According to analysts, the investors showed some confidence after the government first decided to increase Rs30 per litre but the delay in the bailout agreement has caused them to stay on the backfoot.
On the other hand, the US dollar has gained Rs1.29. The dollar traded at Rs199.21 in the interbank market, while in the open market it traded between Rs198 – Rs203.