The benchmark KSE-100 Index fell on Wednesday as worries about regulatory changes, economic uncertainty, and dismal global trends continued to weigh on the capital market.
Along with rupee volatility, uncertainty surrounding government-PTI negotiations, and low global crude oil prices, the Tax Laws Amendment Bill 2024, which restricts non-filers’ ability to own stocks, also served to depress investor mood.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) ended the day at 113,443.43, a sharp drop of 1,598.82 points, or 1.39%.
After hitting an intraday high of 115,256.16, the index fell to a low of 113,359.37 throughout the session, indicating ongoing selling pressure and unimpressive investor mood.
Concerns about the Tax Laws Amendment Bill 2024, which would forbid non-filers from buying more stock than they can afford, kept stocks down.
