PSX gains 216.37 points to close at 44,260.11 points

KSE-100 falls over 160 points on widening current account deficit


Karachi: As the benchmark KSE-100 index fell by more than 160 points, the bears made a comeback on the Pakistan Stock Exchange (PSX) on Tuesday.

The current account deficit widened in November, reaching US$1.91 billion, dampening investor sentiment and shaking their confidence.

At the same time, the continued depreciation of the Pakistani rupee against the local currency and a small budget of 400 billion rupees will appear this week, making investors wait and see.

Today, the benchmark KSE-100 index fell 162.88 points, or 0.37%, to close at 44,177.07 points.

A report from Arif Habib Limited noted that the market remained choppy today as the current account number increased to $1.9 billion during November 2021.

The brokerage house stated that on a year-on-year basis, the primary reason behind the deficit was a 57% year-on-year increase in total imports to $7.3 billion.

“Profit-taking occurred in the first trading hour then the market battled between the bulls and bears throughout the day,” it said.

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