PSX to remain closed for five days due to Eid holidays

Pakistan Stock Exchange will remain closed for five days on account of Eid-ul-Fitr holidays and trading will start from Thursday.

The market received heavy bouts of selling pressure due to joint investigation team's probe into Panama Papers case.

Following the decision to call Prime Minister Nawaz Sharif and his sons to appear before the JIT, the 100-index has lost four thousand points. However, before the closure of market, index recovered some 1000 points.

The local bourse continued its staggering decline in the first two trading session (1,944 pts) hitting an intra-week low of 43,827pts, whereas the market closed at 46,332, down by 1.1% WoW.

After five-day red spell, stock market on Wednesday managed to recover 560pts. Index saw green again of 990pts on the last trading session of the week, securing a much needed positive close.

This week the equity market witnessed pressure due to political uncertainty over JIT and mutual fund redemptions.