KARACHI – Pakistan Stock Market has once again had a troubled session however by trading session s end, index recovered most of the losses and closed with 170 points decline.
The index from the start received fresh heavy blows from the investors and market was down by as much as 1000 points and touched the year’s lowest. At one point, the lowest mark of 41,063 was reached but the condition improved with changed interest from institutional buyers. The high point of trading was 42,291.
The main reason behind this decline was the President Trump statement against Pakistan saying that the country has been safe haven for the terrorist and giving cushion despite getting billions of dollars per annum from the USA.
This was enough for the investors and index nosed dived however, some buying emerged from high net worth investors, mutual funds and selected financial institutions helped arrested the decline.
But overall scenario still appeared to be murky and index like to see some more correction where the volley of falls might be limited.
Market was under tremendous pressure and need some positive news from the financial or political side to gain lost momentum. However need longer period as index in almost two months have lost 11,000 points