The Pakistan Stock Exchange (PSX) witnessed another decline amid growing political instability, with the benchmark KSE-100 index losing 1.88% of its value during the Friday trading session.
According to the PSX website, the KSE-100 index has fallen to 59,872.96, down by 1147.09 points.
Analysts attribute the decline in market sentiment to escalating political uncertainty and its expected adverse effects on the country’s economic stability.
The KSE-100 index fell by 1.82% on Thursday, closing at 61,020.05 – a decrease of 1133.79 points.
Reds dominate a few greens across all sectors, including commercial banks, oil and gas marketing companies, pharmaceuticals, and power generation and distribution sectors.
On the political front, the latest updates indicate that PTI has selected Omar Ayub Khan as its prime ministerial candidate, while PML-N and PPP made progress in developing a strategy for forming a government.
Bulls may enter the PSX once the formation of the coalition government and the power-sharing formula becomes clear, potentially boosting the confidence of equity investors.
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