Over a 400-point drop on the PSX
On Monday, after several analysts lowered their growth forecast for fiscal year 2023 and the government released an assessment of the damages caused by floods, the Pakistan Stock Exchange (PSX) finished in the red.
The KOSPI ended the day at 41,859.30, a drop of 449.81 points (1.06%). Gains in the index were stock dropped to a session low of 41.859.10 points just before trading was halted for the day.
According to the Fitch Rating Dubai data, the global Sukuk issuances surged by 36.1% in 2021 to $252.3bn from $ 174.64bn in 2020. The growth momentum has continued despite Covid-19 and economic challenges.
Source: https://t.co/DEj0AzJ5T9#PSX #NewsandUpdates
— PSX (@pakstockexgltd) September 6, 2022
Ahsan Mehanti, CEO of Arif Habib Corporation, stated that investors’ fears following news that For FY23, the growth rate is now projected at 2.3%, while the Finance Ministry predicted losses of $9.3% billon due to the floods.
Topline Securities has lowered their projections for GDP growth in FY23 from 3-4 percent to the range of 2.5-3.5 percent. Weak global stocks, disappointing August sales figures for cement, oil, and fertiliser, and a plummeting rupee all contributed to the emergence of gloomy sentiment. I’ll include Mehanti.
I am Muhammad Sheharyar Khan, a Pakistan national. I recently completed my FSc in Pre-Engineering and am currently pursuing a BS in International Relations at the University of Management and Technology in Lahore. I passed the fourth semester with the Dean’s Award. I enjoy tinkering with language and luring an audience in with the sparks of my speech, which offer a glimpse of information at every level, from local to global.
I am currently enrolled in a programme where we learn to interact with people both locally and internationally and a touch of public speaking where we are pave us for journalism.
I have written an Urdu poetic book and some English stories stories International published books.
