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.