Stock market takes a nosedive after early surge, closes 481 points down
Business
The Pakistan Stock Exchange swung from early gains to heavy losses, as the KSE-100 Index fell 481 points amid profit-taking and investor uncertainty, ending Thursday’s session in the red.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Thursday as the market slipped into negative territory after showing strong early gains.
At the start of the trading session, the market opened on a positive note, gaining over 1,000 points, with the benchmark KSE-100 Index climbing to 160,590 points. Investors initially showed confidence, pushing the index upward amid strong buying activity.
However, as trading progressed, sentiment suddenly turned sour, and heavy selling pressure dragged the market down.
The bearish trend continued till the closing bell, with the KSE-100 Index losing 481 points to settle at 159,096 points by the end of the session.
On Wednesday, the benchmark index had closed at 159,578 points, reflecting a day-to-day decline in investor confidence.
Market analysts said profit-taking and uncertainty in global and local financial conditions triggered the fall, leaving investors on edge.
