Karachi (May 31, 2017): The Pakistan Stock Exchange today’s session closed on a negative note and with the benchmark KSE-100 index losing 861 points by the close of the trading session to reach 50,591 points.
The bearish trend continued at the market as stocks continued to face losses. On Tuesday, the KSE-100 index lost 685 points to close at 51,453 points.
The announcement of Budget 2017-18 has had a detrimental effect on the stock market since new tax measures were introduced for investors for the upcoming fiscal year. This has meant that investors have continued to book profits even as Pakistan gets officially included in MSCI’s Emerging Markets Index on June 1.
Overall, trading volumes rose to 410 million shares compared with Tuesday’s tally of 234 million.
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