Pakistan’s stock market plunge makes it the third poorest stock exchange in Asia, losing more than 1.35 trillion PKR to investors

Islamabad, June 10: The Pakistan Stock Exchange (PSX), which won the title of Asia’s highest performing stock market in August 2020, is the third in the region in the face of intensifying political conditions and economic collapse as it enters the U-turn. It has become a low performance market.

Investors are up to 16.27 percent (or 1.35 trillion PKR) of their investment in PSX as market capitalization (the sum of all listed companies) has fallen to its lowest level in years compared to its peak of 6.95 trillion PKR on Thursday. I witnessed a wipeout. The June 2021 trillion PKR, Express Tribune reported. Pakistan: KSE-100 plunges over 1,500 points in intraday trading

Oil refineries were the hardest sector in terms of losing market capitalization. The capital of this sector was halved to Rs 66 billion in March, compared to Rs 146.56 billion at the end of June 2021.

According to the Pakistan Economic Survey 2021-22, from July to March 2010, the cement sector lost 24% of its market capitalization and the market capitalization of auto assemblers decreased by 13%.

PSX, after the benchmark KSE-100 index fell 5.1% (2,427 points) in the first nine months (July to March) of the next fiscal year and closed at 44,929 points on March 31. It has become the third poorest performing market in Asia. The Express Tribune cites the content of this study.

According to the latest data, PSX is the second poorest performing market in the region after Sri Lanka for the entire current fiscal year (July-June 2010).

According to Arif Habib Limited (AHL), PSX fell about 31 per cnet on a dollar basis in the current fiscal year.

According to the survey, “Pakistan’s stock market performance will bring booms and recessions in 2022 (July-March) due to geopolitical tensions, especially the conflict between Russia and Ukraine, and domestic political uncertainty. “.

(The above story was first published on June 10, 2022 at 9:13 pm IST. Log on to our website for news and updates on politics, the world, sports, entertainment and lifestyle. please.

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