February 14, 2023 (MLN): In the latest development, the Pakistani stock market has experienced a significant downturn as reports indicate that the International Monetary Fund (IMF) is urging the government to implement a substantial increase in interest rates in order to combat the country's rising inflation.

This news has generated considerable concern among investors, leading to a large-scale selling of equities.   As a result, the KSE-100 Index has lost 491 points so far [12:15 PST] and currently trading at the 41,225.61- mark or down by 1.18%.

Sector-wise, Oil & Gas Exploration Companies, Technology and Communication, Commercial Banks, and Cement have witnessed higher selling activity as they have lost around 118, 107, 77, and 53 points, respectively.

Company-wise, the scrips of UPFL, NESTLE, COLG, MARI, and ABOT have endured the maximum losses.

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Posted on: 2023-02-14T12:15:01+05:00