The Pakistan Stock Exchange (PSX) witnessed a significant downturn, with the benchmark index plummeting by 1,411.65 points to 112,108.67, a 1.224% decline as of 11:45 am, on Tuesday.
This decline was largely driven by energy stocks, including HUBCO, MARI, OGDC, PPL, PSO, SHEL, SSGC, and SNGPL, which were trading lower.
Notably, this decline occurred despite the State Bank of Pakistan’s (SBP) decision to reduce the policy rate from 13% to 12% on Monday. SBP Governor Jameel Ahmed announced this decision during a press conference in Karachi, citing a detailed discussion by the Monetary Policy Committee.
The PSX’s KSE-100 index also experienced a bearish trend on Monday, shedding 1,360.16 points, or 1.18%, to close at 113,520.32 points, down from 114,880.49 points on January 27.
