KARACHI: Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index on Thursday lost 513 points, ARY News reported.
Investors’ confidence is shaken after the looming risk of default and delay in the transfer of loan tranche from the International Monetary Fund.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index is currently trading at 41,224 points.
According to the market experts due to the ongoing unfavorable economic sentiments and political instability, investors remained on the sidelines.
Volumes in the main board dried up, although expectations of the gas price hike kept the E&P sector in the limelight.
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Workers’ remittances decline by 14pc in November: SBP
Remittances sent home by overseas Pakistani workers continued to decline, as they hit a record low of $2.108 billion in November 2022, a drop of 14.3 percent on a year-on-year basis.
According to the data provided by State Bank of Pakistan (SBP), the inflow of overseas Pakistani workers’ remittances clocked at $2.108 billion in November 2022 against $2.460 billion in the same month last year.
The inflow in November is also the third successive month-on-month decline. Meanwhile, the remittances fell 4.8% on a month-on-month basis, as they amounted to $ 2.215 billion in October 2022.