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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