Karachi: The Pakistan Stock Exchange was bearish on Thursday, and the benchmark KSE-100 index closed at 163,924.31 points after falling 2,006.67 points. The index recorded a decline of 1.21 percent.
Investors’ attention remained focused on the State Bank’s monetary policy meeting to be held on October 26, where expectations of a decision on interest rates could affect the market trend.
Fear of inflation in the market, the political situation in the country and uncertainty regarding crude oil prices due to tensions in the Persian Gulf were also important factors for investors.
Business activities in the stock market remained limited. According to the data available from the Pakistan Stock Exchange, about 364.3 million shares were traded in the overall market, while the value of the transaction was about Rs 18 billion.
On the other hand, the market capitalisation decreased by about Rs 211 billion, after which its value was reduced to Rs 18,173 billion.
According to the State Bank, the interest rate was maintained at 11.5% in the last monetary policy meeting. Now investors are evaluating the possible decision in the next meeting and its impact on business activities.
In the coming days, the development related to interest rates, inflation data and regional situation can play an important role in determining the direction of the stock market.
