Stocks continued to decline Tuesday as rising tensions in international trade, a decline in oil prices, and significant withdrawals from overseas weakened investor mood generally due to political unpredictability and currency volatility.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) was down 809.63 points (-0.72%) to close at 111,935.38, after reaching an intraday high of 113,649.07 and a low of 111,828.10 points.
The bearish trend was ascribed by market observers to pressure on foreign equities markets and uncertainty surrounding global trade policies.
The managing director and CEO of Arif Habib Commodities, Ahsan Mehanti, observed that equities continued to decline due to concerns about the global trade war and a sharp decline in the price of crude oil.
“The bearish activity was caused by political noise, rupee instability, and worries about foreign outflows,” he continued.
