PSX drops sharply amid market volatility
Business
Pakistan Stock Exchange opened lower as KSE-100 fell over 1,500 points to 161,766 amid profit-taking, heavy sectoral selling, and declining trading volume and market capitalization
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) opened new business week on a negative note amid profit-taking rally by investors on Monday.
During the session, the benchmark KSE-100 index dropped by over 1,500 points, reaching 161,766 points, compared to previous close of 163,304.13 points.
Market analysts attributed the fall to investor caution amid domestic and global economic uncertainties. Trading activity reflected heavy selling across major sectors.
In previous session, the 100-index recorded bearish trend on Friday, losing 1,286.28 points, a negative change of 0.78 percent, closing at 163,304.13 points against 164,590.41 points on the previous trading day.
A total of 478 companies transacted their shares in the stock market; 136 recorded gains, 300 sustained losses, and 42 remained unchanged.
The total trading volume in the ready market was 1,041.17 million shares compared to 1,504.58 million shares on Thursday, while the traded value declined to Rs35.02 billion from Rs49.52 billion. The market capitalization also fell to Rs18.81 trillion from Rs18.99 trillion.
