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PSX loses 723 points, closes at four-year low

The Pakistan Stock Exchange closed on Wednesday at a four-year-and-four-month low. It closed at 30,277 points.

The last time the PSX closed at this level was around March 2015. In the last five sessions, the KSE-100 index lost 5% or 1,661 points.

Wednesday saw a 723-point drop.

Recently, the World Bank predicted that the next two years are going to be tough for the economy and that Pakistan’s economic growth will slow to 2.7% in 2020. This was reinforced by the IMF, which predicted that Pakistan’s GDP growth rate will be reduced to 2.9 % while inflation and unemployment will go up.

Market capitalisation has also dropped by more than a trillion rupees since the PTI government came into power. On August 18, 2018 it was at Rs8.7 trillion. Market capitalization is the market value of a publicly traded company’s outstanding shares.

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Article source: https://www.samaa.tv/news/2019/08/psx-loses-723-points-closes-at-four-year-low/

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