KARACHI: Stocks declined on Tuesday, driven down by late profit-taking as investors remained firmly in their comfort zones in the face of elusive buying triggers, loud political clamour, and a dearth of foreign capital, according to dealers.The KSE-100 Share Index, the top index of the Pakistan Stock Exchange, lost 53.98 points, or 0.13%, to close at 42,796.85 after swinging between an intraday low of 42,748.71 points and a high of 43,035.78 points.
Investors continued to be wary, according to Darson Research, as Pakistan’s five-year credit default swaps widened to 64.19% as default chances increased.Lack of progress on the next International Monetary Fund (IMF) assessment and the absence of encouraging triggers, the brokerage continued, “further hurt sentiment.”Analysts added that the rupee’s current downward trend is not encouraging for investors in the nation’s capital markets.
