KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) on Tuesday experienced a bearish trend, losing 908 points, ARY News reported.
The benchmark KSE-100 index plunged 908 points to stand at 74,666 from the previous close of 75,575.25 points.
Mohammed Sohail, chief executive of Topline Securities, credited the bearish momentum to the delay in budget and selling pressure by players.
The federal budget 2024-25 is likely to be presented on June 12, it emerged today.
Interestingly, it is also unusual that the budget strategy paper (BSP) for the next fiscal year has not yet been ‘shared’ with parliament, though it is more because of political uncertainties emanating from the legal status of reserved seats and because of the absence of standing committees of the Senate and the National Assembly, particularly those related to finance.
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The budget 2024-25 which was earlier scheduled to be presented on June 10 is now likely to be presented on June 12.
The Pakistan Economic Survey 2023-24 will be presented on June 11 after a meeting of the council on June 10, the sources said. The federal budget 2024-25 will likely get approval from the Senate by June 26.
 on Tuesday experienced a bearish trend, losing 908 points, ARY News reported.){kind=link}