KSE-100 index loses more than 880 points, down by 2.00% in first four hours of trading.
The fundamentals are decidedly weak, the political instability continues to haunt and nothing seems to be going their way for PML (N) government. The Forex reserves are depleting at a faster pace than ever. The business sectors see no respite in sight from exports anytime soon; a World Bank bailout is on the table yet again. However, World Bank has been warning Pakistan for quite awhile now about the Foreign Exchange rate and consequences thereof.
The Finance Minister of Pakistan, as the old adage goes, is in a bit of a pickle. His professed (much criticized) love for a stable dollar and art for balancing the books has turned into a stalemate for the economy of the country.
KSE-100 index currently trades at 43302 points, after touching the lowest point’s level of 43134 [-1053] at noon.
The volume traded has totaled to 47.6 million, whereas value of the trades equals 4.10 billion in the first few hours of the session.
