PSX lost momentum as KSE 100 Index dropped by 365 points

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Pakistan Stock Exchange is on constant decline as the KSE 100 Index dropped again.

KSE 100 Index fall by 364.5 points (0.95%) and reached at 37,853.57 points. Yesterday, PSX moved in sharp differentiation to the global markets which recuperated on the back of increment in global oil prices. Things have begun to warm up on the political front as the legislature put ex-president Asif Ali Zardari on ECL due to money laundering case probe.

KSE 100 Index reached below 38,000 for the first instance since October. Conditions accepted to stay unpredictable because of rollover week and vulnerability over the political and monetary issues.

Real contribution to PSX downside originated from Lucky Cement, down 3.49%, Habib Bank 2.19%, Bank Al Habib 3.72%, Engro Corporation 2.06% and United Bank 2.23%.

Financial specialists anticipate the following round of transactions with the International Monetary Fund in January, however the terms and conditions for a guide bundle seems hard to meet. The bailout bundle expects measures to meet income setback; power climb and further currency devaluation.

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