Karachi: On the third day of the trading week, the Pakistan Stock Exchange witnessed a sudden downturn after a rally and the 100 Index fell 519 points to 164,973 due to loss of investor confidence.
There was a time during today’s trading when the 100 Index reached a high of 166,522 points, however, selling pressure pushed the index down in the closing stages of the day.
Yesterday, the market closed at 165,493 points, but today’s trend shows that investors are preferring short-term profit-taking.
Experts say that the index’s fall below 165,000 points is a temporary fluctuation, however, investors need to be cautious because the effects of the global market may also affect the stock market in the coming days.
