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KARACHI: The Pakistan Stock Exchange (PSX) has witnessed massive selling pressure on Thursday as the benchmark KSE-100 index shed more than 1600 points in intraday trading.
According to the details, today, on the fourth day of the business week, the worst decline was recorded in the Pakistan stock market. The KSE 100 Index fell 1600 points. Economic analysts said that inflation has been higher than expected in the past month, leading to fears of a rise in interest rates.
According to stock analysts, the 11.5 percent interest rate on six-month treasury bills in the banking system is nothing short of a wake-up call for investors. Monetary policy is expected to raise interest rates on 14th December.
Read more: Bulls regain control as PSX ends on positive note
The KSE 100 Index fell by 1644.27 points. The market fell by 3.76 percent to 43,724 points and billions of rupees of investors sank. Earlier, the Pakistan Stock Exchange witnessed a sharp rise of 296.76 points during the previous day. The 100 Index closed at 45,369.14 points.
The previous day saw an improvement of 0.66 percent in business while 89,929,192 shares were traded. The US dollar depreciated. The dollar fell from Rs 175.48 to Rs 175.72.
