May 09, 2022 (MLN): Dragged by weak macros including widening trade deficit, depleting forex reserves, delay in IMF deal, falling rupee against USD and political heat up, the Pakistan Stock Exchange’s KSE-100 Index has lost 843.18 points or 1.88% during an intraday trade. The index is currently trading at the 43,997.63 level [PST: 10:20].

On the economic front, the country's trade deficit ballooned by 64.79% to stand at $39.36 billion during the first ten months of the current fiscal year, mainly due to an exponential growth in imports and comparatively slow growth in exports. While FX reserves continued to decline, clocking in at $16.55bn after a $115mn WoW decline.

Commercial banks, cement and technology & communication have witnessed higher selling activity as they have lost around 193, 107 and 103 points, respectively.

Company-wise, the scrips of SYS, LUCK, HBL, PPL, OGDC, ENGRO  and MEBL have endured the maximum losses.

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