PSX traded into negative for yet another session as intraday low fell bellow the 40000 level to 39384 points. Political turbulence continues to rock the markets as investor confidence has significantly declined over the period of last four months.
Apart from the political uncertainity, investors have been struggling to find any respite in the market as the economic fundamentals pose a serious threat to the economy.
State Bank of Pakistan in the Annual Report highlighted the state of economy by bringing the 5.3 percent growth in spotlight. The Report mentioned that Pakistan has witnessed a decade high growth in FY 17. The report mentioned improvement in agriculture sector, healthy value addition in services sector, and continued improvement in the manufacturing sector has contributed to this broad based growth. From the demand side, the growth was led by a surge in consumption followed by a moderate increase in investment.
KSE-100 Index at the day end lost a total of -266.15 points down by 0.66%, closing at 40237.53 points. Index Volume was 62.69 million shares, value of shares traded was PKR 4.99 billion with index low-high range of 39834.10 – 40791.91.