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Stock market plunges to a four-year low

August 7, 2019
Stock market plunges to a four-year low

The Pakistan Stock Exchange closed on Wednesday at a four-year-and-four-month low. It closed at 30,277 points.

The last time the PSX closed at this level was around March 2015. In the last five sessions, the KSE-100 index lost 5% or 1,661 points.

Wednesday saw a 723-point drop.

Recently, the World Bank predicted that the next two years are going to be tough for the economy and that Pakistan’s economic growth will slow to 2.7% in 2020. This was reinforced by the IMF, which predicted that Pakistan’s GDP growth rate will be reduced to 2.9 % while inflation and unemployment will go up.

On August 27, 2018, the PSX was at 42,873. The PTI government came into power on August 18. Since then, it has dropped 12,596 points.

Market capitalisation has also dropped by more than a trillion rupees since the PTI government came into power. On August 18, 2018 it was at Rs8.7 trillion. Market capitalization is the market value of a publicly traded company’s outstanding shares.

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Pakistan Stock Exchange, KSE-100 index, PTI, government, market, drop