Abb Takk News
Business News Ticker TRENDING

Pak-India Tension Dominates as PSX Sheds 485 Points

KARACHI: The Pakistan stock market dropped 485points to three-and-half-year low in intra-day trading, falling below 31,000 points due to an escalation in Pakistan-India tension along the Line of Control.

At 12:58, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index was down 579 points to stand around 31,087 points.

The benchmark index commenced the week on a negative note, hitting the day’s low around the halfway mark of the trading session at 30,979 before closing at 31,181 points — down 1.5 per cent.

The commencement of the market at 31,666 points remained the day’s high.

In all, 52 million shares, worth Rs1.8 billion, changed hands during the session.

The dollar lose 18 paisa against rupee and slide down to 158.93 in interbank while it lose 60 paisa in open market and closed at 158.90.

The gold reached Rs 84000 per tola after the gain of Rs 550 as the gold rate in international markets also witnessed a gain of $ 17 and closed at $ 1459 per ounce.