As the market opened, the KSE-100 Index dropped a record 3,790 points, or 3.3%. This was another historic day for the Pakistan Stock Exchange (PSX). When compared to the previous record set on November 29, when the index fell by 3,505 points, this is the biggest drop in points in a single day this year. The 3.7% drop from November 29 is still the biggest of the year in terms of percentages. Market watchers say the drop was caused by people selling their mutual funds at the end of the year and people taking profits after a long run. The day’s low point for the KSE-100 Index was 110,896 points. More than 1.11 billion shares were bought and sold on the market, worth more than PKR 60 billion. Even though the price went down, the market value went up by PKR 437 billion to PKR 14,145 billion. The PSX keeps going up and down as market participants weigh the chance to make money against larger economic and financial market forces.
