Another meltdown at PSX as benchmark plunges 1,000 points on govt's indecision

[Path-Finder]

https://twitter.com/x/status/1524305340677988352

this #$@ used to s#it on PTI gov. now what's wrong with this twat? not liking purana system in action?

look what your party pro anchor saying

https://twitter.com/x/status/1524281435548712960

after wasting 1 month and burning reserves they come to know this lol

https://twitter.com/x/status/1524420123850944513

there needs to be a Spanish inquisition type thing in Pakistan, see a tooei wal kill it. see a peepee mofo skin it alive and so on forth.

 

[R Wing]

The corrupt cabinet going to meet a convict who is currently absconding in London on the taxpayer's dime...

You can't make this up.

 

[Clutch]

The Pakistan Stock Exchange (PSX) witnessed intense selling pressure on Wednesday as the benchmark KSE-100 index shed nearly 1,000 points during intraday trading, two days after it lost almost 1,500 points.

According to the PSX website, the KSE-100 Index opened at 43,504.36 points. By 1pm, it had slid nearly 1,000 points, or around 2.28 per cent, to 42,513.78 points.

Raza Jafri, head of Equities at Intermarket Securities, said urgent decisions were needed from the federal government. "The government has been dragging its feet so far which is eroding investors' confidence and leading to panic selling."

The market, he emphasised, needed the International Monetary Fund program to resume quickly to find a foothold. "If the programme continues to be delayed, buyers will continue to shy away," he added.


Meanwhile, First National Equities CEO Ali Malik blamed the political uncertainty for the slump in the market.

"The rate of return on fixed income has reached 14pc. If it expands, the market will recover faster from here. At present, our market is cheap in terms of profit in the whole region, but the confidence of investors is not high due to the domestic situation," he said.

Today's decline comes two days after the PSX witnessed a meltdown during which the KSE-100 lost 1,447.67 points.

Share prices nosedived as investors expressed worries about the country’s debt repayment capacity amid depleting foreign exchange reserves.

Another meltdown at PSX as benchmark sheds 641 points on govt's indecision

Expert says government needs to take "urgent decisions", stresses immediate resumption of IMF programme.

www.dawn.com

It all has to burn down to the ground before we can build back better.


Inshallah we will make Pakistan great again. But we need the current corrupt system to crash and burn. There will be pain.... But from that pain will come true freedom.

 

[PakAlp]

yup basically their bughz let them down.

Everything is reverted to them now.

While zardari is enjoying saying dont increase petrol price so if pmln does its their lost and ppp will say we said dont increase the price but pmln didnt listen


Really pmln walo ko zardari kha jayega aun ko pata bhi nahi lagayga lol

PMLN should have waited till 2023 elections and then used inflation etc to make a point. They came with one year left and everything is crashing and is on their head. Zardari is clever and hiding in Sindh. His kursi is safe but PmlN is on the line. Fazlur will use the religious card and save himself.

 

[ARMalik]

Fakie @Desprado is happy another day for imported govt in power.

--

Its such a shame that PM is out in London to meet his brother while stock exchange bleeds for third consecutive day.

Situation is seriously getting bad for Pakistan economy. Current imported govt is hesitant to make any tougher decision. Catch 22 situation for them. Question is have neutrals realized their blunder ?

Well we need the expertise of @DGISPR -- he should give us an update. I WONDER WHERE HE IS??

 

[AZADPAKISTAN2009]

PSX can wait , need to demand election first

 

[AZ1]

Stock market still in negative 300-400 points

 

[SD 10]

Stock market still in negative 300-400 points

Yeah market started quite weak today.... but still we will see how it closes.... three or four more days of free fall and the govt will be pretty much done for!

 

[AZ1]

https://twitter.com/x/status/1524623334276743168

 

[Olympus81]

As much as I hate PDM crooks, PSX has no bearing here.

The $/Rs parity and other economic indicators are a big concern here. The PDM hotch potch are clueless here.

 

[AZ1]

https://twitter.com/x/status/1524635570705735680

dollar trading at 191.65

 

[AZ1]

dollar now 192

 

[SD 10]

https://twitter.com/x/status/1524635570705735680

dollar trading at 191.65

-500 now!

 

[AZ1]

@Desprado hide na ho chanda samnay ao na lol

 

[koolio]

As much as I hate PDM crooks, PSX has no bearing here.

The $/Rs parity and other economic indicators are a big concern here. The PDM hotch potch are clueless here.

If you look at the portfolio of PDM lot, you will know exactly what credentials they hold most of them are vision less, corrupt, cases are pending against them and are not capable to make difficult choices to lead a country out of bad crisis.