Monday, September 25, 2023

Pakistan Stock Exchange Crashes Over 1,700 Points Amid Economic Concerns

The Pakistan Stock Exchange had a tough day on Thursday. The main stock index dropped by a big 3.86%, losing 1,784 points by 2:53 pm. This was mainly because people were worried about how the country’s economy is doing.

Investors were concerned about the rupee (Pakistan’s currency) becoming weaker compared to the US dollar. This worry made them sell their shares, thinking that the economy might have problems soon.

Right from the start of the trading day, the main index, called KSE-100, went down a lot, more than 1,100 points, and went below 46,000 points. Unfortunately, the index didn’t get better because investors didn’t feel very confident.

At 2:14 PM, the stock exchange had fallen to 45,139.34 points, which is 1,105.21 points lower than the previous day when it closed at 46,244.55 points.

Investors are watching closely how much the rupee is losing value, especially since the International Monetary Fund (IMF), which helps with financial issues, won’t be looking at this situation for a few more months. Also, people are unsure about investments coming from the Gulf Cooperation Council.

Related Articles

Latest Articles