Stocks hit a rout Monday as investors cashed out of their positions, playing safe, ahead of the central bank s monetary meting this week amid concerns over IMF loan programme holdup, traders.
KARACHI: Stocks nosedived on Friday after the government announced an extra 10 percent super tax on select sectors for one year, which spurred a mass exodus, the largest single-day decline in six.
Stocks barely changed on Tuesday as fresh rupee losses and reports of heavy IMF-dictated taxation in the budget spooked investors out of the market, traders said.Pakistan Stock Exchange s benchmark.
Stocks on Wednesday shuttled between losses and gains to end a shade higher on value-hunting as a political unrest rages across the country, traders said.Pakistan Stock Exchange s benchmark KSE-100.
Stocks on Tuesday rose from Monday’s ashes in tight trade as renewed IMF loan bets touched off bargain-hunting in oversold stocks, traders said.Pakistan Stock Exchange s benchmark KSE-100.