The bourse began the week poorly, plummeting precipitously due to rollover week pressures, low trading volumes before Eid ul Fitr, and worries in the cement industry.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) closed at 116,439.62, down 2,002.55 points, or -1.69%. The day’s high was 118,797.70, and the low was 116,257.51, which was 2,184.66 points lower, or -1.84%, than the close of the previous session at 118,442.17.
Market analysts claim that the Khyber Pakhtunkhwa government’s announcement of higher royalty fees on the cement industry depressed investor mood.
One explanation is that there have been rumors in the cement industry that KP is raising royalty.
