December 20, 2022 (MLN): Sliding towards a bottomless pit, the benchmark KSE-100 Index has so far lost over 1400 points as the index is being traded below the lowest level since July 2022. Currently, the index is trading at 39,556.60. 

Investors' confidence is completely shaken due to the current political turbulence in Punjab and KP assemblies to be solved coming Friday, Shayan Jan, Industry Research Analyst at Al Baraka Bank told Mettis Global. 

He further added that institutions are on redemption, apparently, it looks like investment is being pulled out from the equity market and being switched towards the money market to get better risk-free returns. 

"The future outlook is still negative as our foreign exchange reserves are declining every day, until and unless any huge funding is arranged market sentiment will remain negative," he anticipated. 

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Posted on: 2022-12-20T15:00:03+05:00