KSE-100 falls after early rally, closes 975 points lower
Business
After hitting historic highs earlier in the day, the Pakistan Stock Exchange saw a sudden downturn, with the KSE-100 index closing lower by 975 points.
KARACHI (Dunya News) - The Pakistan Stock Exchange (PSX) witnessed a rollercoaster trading day on Thursday, with the KSE-100 index first soaring to historic levels before slipping into negative territory.
The market opened on a strong note, with the index gaining over 800 points to reach 187,427 points.
Investors initially seemed to have the wind at their backs, but the tide quickly turned as selling pressure increased during the trading session.
By the end of the day, the KSE-100 index fell by 975 points, closing at 185,543 points.
This came after a strong performance in the previous session, where the index had risen by 1,456 points to finish at 186,518 points.
Analysts noted that the stock market has been on a bullish run since the start of the week, breaking several psychological levels and setting new records.
However, today’s decline shows that even when the market is riding high, a sudden shift can quickly bring it back down to earth.
