PSX ends winning streak as investors pause.
| Published date | 17 April 2024 |
KARACHI -- Pakistan Stock Exchange (PSX) on Tuesday recorded its first decline following six consecutive positive sessions over institutional profit-taking coupled with uncertainty surrounding talks with the International Monetary Fund (IMF) for a new loan programme and geopolitical tensions.
Earlier, trading commenced on a robust note, with the KSE-100 index surging to the intra-day high of 71,092.61 points before midday. However, as the day progressed, the market began to decline due to a shift in investor sentiment, driven by several factors.
These included IMF's conditions for tax policy reforms, easing of international crude oil prices and a slump in global equities.
Sectors like oil and gas marketing, power generation, fertiliser and cement came under selling pressure, which...
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