KARACHI: The Pakistan Stock Exchange (PSX) hit a five-year low on Thursday and shed over 400 points during trading.
The stock exchange slipped to breach the psychological barrier of 30,000 and the KSE-100 index traded above 29,800 points. As a result of the downfall, investors have collectively lost over Rs120 billion.
According to analysts, the recent conflict with India over Kashmir and the stringent policies, implemented following passage of the financial budget for the fiscal year 2019-20, are reflecting in the downfall of the stock market.
Let it be known that the KSE-100 Index on Wednesday shredded 723 points and closed at 30,277 points, witnessing a four-year-and-four-month low.