Pakistan Stock Exchange ends in the red after wild swings in trading
Business
PSX saw a highly volatile session on Thursday. After an early surge of over 1,000 points, the market lost momentum and slipped into the red by closing time.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) went on a roller-coaster ride on Thursday, as early gains gave way to a sudden downturn, pushing the benchmark index into negative territory by the end of the trading session.
At the start of the day, the market came out strong, with the KSE-100 Index soaring over 1,000 points to reach an intraday high of 166,729 points. However, as the session wore on, selling pressure crept in, wiping out the early gains.
By the closing bell, the index had slipped 735 points, settling at 164,530 points – a disappointing close after a promising start.
A day earlier, the market had already taken a hit, losing 907 points to close at 165,266.
Trading volume remained active, with 698.8 million shares changing hands, worth Rs37.07 billion.
In short, the PSX started off with a bang but ended with a whimper, as profit-taking and uncertainty took the wind out of investors’ sails by the day’s end.
