Stocks slide after record surge as benchmark index closes lower
Business
After hitting a record high, the Pakistan Stock Exchange reversed gains as selling pressure dragged the benchmark KSE-100 Index into negative territory by close.
KARACHI (Dunya News) - The Pakistan Stock Exchange witnessed a sudden downturn after a record-breaking surge, with the benchmark KSE-100 Index closing in the negative zone.
On the first day of the trading week, the market opened on a strong note, gaining more than 1,800 points. The KSE-100 Index reached an all-time high of 191,032 points during early trading.
However, selling pressure emerged during the session, reversing earlier gains. The downward trend persisted until the close of trading, with the benchmark index shedding 579 points to settle at 188,587 points.
It is worth noting that on the final trading day of the previous week, the stock market had closed higher, with the KSE-100 Index gaining 1,478 points to end at 189,166 points.
