During the week, the bourse lost another 386 points and closed at 43,101 points, the decline elevated mainly due to the massive depreciation in PKR as the USD traded at an all-time high of PKR201.5/USD due to depleting SBP foreign exchange reserves given the hovering trade deficit.

Meanwhile, the government decided not to increase POL products prices, the decision raised concerns over the resuming of the IMF program and current account deficit due to higher oil import bill, as subsidizing Petrol/diesel prices not only hampering PAK-IMF talk but also swelling demand at a higher pace. Moreover, the adverse political situation in the country continued shaking investors’ sentiments as they are waiting for the PM’s speech for clarity on the political front.

Courtesy- Spectrum Research’