PAKISTAN STOCK EXCHANGE PLUNGES OVER 1100 POINTS
Pakistan Stock Exchange (PSX) on Tuesday witnessed bearish trend as KSE-100 index lost 1146 points.
The benchmark KSE-100 index closed at 32,353 points with a negative change of 1146 points.
The Pakistan Stock Exchange (PSX) on Friday saw a return of the bulls as the benchmark KSE-100 Index gained over 1400 points.
Since trading resumed at 11:55 am, the market has continued to increase its gains. The benchmark index also touched the level of 33,000 points during the trading. The KSE-100 index gained 1498 points on the last working day and closed at 32,832.Since trading resumed at 11:55 am, the market has continued to increase its gains. The benchmark index also touched the level of 33,000 points during the trading. The KSE-100 index gained 1498 points on the last working day and closed at 32,832.
The confidence was prevailed among the investors as the State Bank of Pakistan (SBP) on Thursday further slashed its key interest rate by two per cent (200 basis points) to nine per cent in wake of the worsening outlook for global and domestic economic activity due to the COVID-19 pandemic.
Over the past one month, the central bank’s key interest rate has seen a cumulative reduction of 4.25% per cent.
The Nation, 21 Apr, 2020
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