Stocks bleed for third straight session despite PM’s visit
KARACHI: Despite positive news flows, particularly on the economic front, Pakistani equities continued to bleed for the third straight session as the benchmark KSE 100 index plunged amid a broad-based sell-off on Wednesday.
However, subdued quarterly GDP growth of 0.92pc from 2.3pc in the same period last year, mounting political tensions, both at the local and international front and the resurgence of violence dampened investor sentiments who resorted to panic-selling since the start of the current week, chopping off 3,437 points from the benchmark index in the last three sessions.
A positive development was the $2bn debt rollover by the United Arab Emirates, which, as the government claimed, reflects economic stability achieved with aggressive economic reforms undertaken under the International Monetary Fund’s........
© Dawn Business
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