KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) turned bullish on Thursday, despite a promising start earlier in the day.
The benchmark index has dropped to 148,703.10 points, marking a decline of 1,887.90 points, or 1.25 percent after bulls propelled it to 151,249.62 point during intraday trading.
The significant volatility is being attributed to profit-taking by investors ahead of the last day of the business week on Friday.
A day earlier, the benchmark index continued with bullish trend, gaining 820.26 more points, a positive change of 0.55 percent, closing all time high at 150,591.00 points.
A total of 667,817,396 shares were traded during the day as compared to 809,082,439 shares the previous trading day, whereas the price of shares stood at Rs 40.728 billion against Rs 48.430 billion on the last trading day.
As many as 487 companies transacted their shares in the stock market, 240 of them recorded gains and 216 sustained losses, whereas the share price of 31 companies remained unchanged.
Meanwhile, Asian stock markets were mixed as investors braced for three days of potentially market-moving news from the Federal Reserve's annual symposium in Jackson Hole.