Business
Stock market plunges as KSE-100 plunges 5,183 points – SUCH TV
The Pakistan Stock Exchange witnessed a bearish trend on the first trading day of the business week on Monday.
During trading, the benchmark KSE-100 Index dropped by 5,183 points, bringing it down to 162,007 points.
So far during the session, the index has hit an intraday low of 161,638 points and a high of 162,660 points.
It is worth noting that at the end of the last trading session of the previous week, the KSE-100 Index had closed at 167,191 points.
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Rising inflation in the country has already broken the backbone of the common man but prices of ghee and cooking oil have again increased by Rs20 to Rs50 in Karachi.
According to details, the A and B brands of ghee and oil companies’ prices increased from Rs20 to Rs50 over the last ten days.
The price of A brand cooking oil is being sold at Rs610 per kilogram after an increase of Rs20.
The cooking oil of the B brand is being sold in the market at the rate of Rs500 instead of Rs450 per liter. B brand of cooking oil is available at Rs 470 per liter instead of Rs 450.
A shopkeeper said that an increase in prices has been witnessed over the last ten days.
The shopkeeper further revealed that prices were increased due to the rise in shipping companies’ fares and demand in difference between demand and supply.
The outgoing year proved to be an inflationary tsunami, devastating household budgets as prices of food and essential commodities surged to record levels.
Pulses, vegetables, fruits, meat, chicken, milk, yoghurt, flour, bread, and even a cup of tea became crushingly expensive, eroding the purchasing power of salaried classes.
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