Karachi: The Pakistan Stock Exchange continued to see bearishness for the second consecutive trading day on Tuesday, with the benchmark KSE-100 index closing at 165,151.64 points after a decline of 814.44 points.
The index was volatile during trading. The initial rally led to a high of 166,425 points, but selling pressure later pushed the market into the negative zone. There was a difference of about 1,314 points between the highest and lowest levels of the index during the trading session.
The index had also closed at 165,966.08 points, down 453.63 points on the previous trading day. Thus, the benchmark index fell by a total of about 1,268 points in two consecutive sessions.
A total of more than 446.8 million shares were traded in the market, worth about Rs 19.43 billion. Due to the downturn, the total market value also decreased to about Rs 18.31 trillion.
Investors’ attention is focused on the meeting of the State Bank of Pakistan’s Monetary Policy Committee on October 26. Expectations regarding a possible increase in interest rates can affect investment decisions, as higher interest rates can increase the borrowing costs of businesses.
The future direction of the stock market will depend on the interest rate decision, economic indicators and investor confidence.
