KSE-100 loses over 500 points amid political and economic uncertainty

Economic, political headwinds push KSE-100 index in red zone


KARACHI: The Pakistan Stock Exchange (PSX) slipped back into the red zone as prolonged economic worries drove the benchmark index down nearly 50 points.

Political tensions have affected the investment climate after the opposition party announced a motion of no confidence in the government and ahead of the PPP and the Pakistan Democratic Movement (PDM)’s long march.

Trading volumes were subdued as investors expected higher local oil prices to lead to inflationary pressures.

Soaring inflation and failed government efforts to rein in price increases added to investor concerns.

On the performance front, Pioneer Cement closed down 1.42% after it announced its 2QFY22 EPS of Rs 2.92.

At the close, the benchmark KSE-100 edged down 46.90 points, or 0.10%, to 45,684.80.

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