Karachi: The Pakistan Stock Exchange (PSX) witnessed a volatile trading day on Thursday. Initially, the market was in a positive trend, but later, the bearish trend was dominant due to profit-taking and this trend turned negative by the end of the trading session.
The PSX 100 Index recorded a decline of 1241 points during the trading session, after which the index closed at 1,64,444 points.
During the session, the index also touched a high of 1,66,864 points, which reflects the initial confidence of investors and hopes for economic recovery. However, the bearishness prevailed in the other part of the market due to the uncertainty regarding policy measures and pressure from external financial conditions.
Yesterday (Wednesday), the index had closed at 1,65,686 points, thus Thursday’s decline erased the previous day’s slight increase.
According to market experts, the recent decline is due to cautious investor behavior and possible upcoming monetary policy announcements. Nevertheless, trading volume remained satisfactory, indicating that investors are eyeing reinvestment opportunities after the market stabilizes.
