On the other hand, the rupee weakened further in inter-bank and open markets, pushing the stock market down. He regretted that in the last two trading sessions, the equity market shed 1,407 points or 3.91% primarily because of budget uncertainty. “This happens every time before budget announcement when a tax-heavy budget is expected,” Schehzad remarked. K-Electric was the volume leader with 18.5 million shares, gaining Rs0.18 to close at Rs4.27. It was followed by The Bank of Punjab XD with 7.3 million shares, losing Rs0.58 to close at Rs10.06 and Unity Foods with 4.3 million shares, losing Rs0.89 to close at Rs9.83.

Source: The Express Tribune June 10, 2019 14:37 UTC