Karachi: The Pakistan Stock Exchange today has undergone a difficult trading session today as the 100-Index has fallen to 1509 points which indicates a more difficult market. After an apparent dip in investor confidence and overall market excellence, the benchmark 100-Index devalued and was recorded at 112,414 points.
In the trading period, the 100-Index oscillated irregularly, reaching as much as the 2,742 points; it was also influenced by fluctuations in various other indices. The index hit 115,036 as the day’s high, but it could not keep up the pace; it proceeded to go down as the overall market trend indicated a downturn.
The total turnover of the exchange today is 88 crore or 880 million shares and has a turnover value of 54 billion rupees. This level of activity was relatively moderate and bearish, due to the cautiousness that engulfed market players awaiting the outcome of ongoing economic difficulties.
Consequently, the market capitalization of the PSX was cut by 194 billion rupees and ended at 14,251 billion rupees, due to the poor performance of market today. The decline in market capitalization further indicates the fact that today’s trading loss will be realized on lesser value of the listed company.
Market analysts identified numerous factors which they attributed to the decline among them being political environment risks and inflation risks. Besides these measures, market volatility has also come into play, threatening the local market, apart from global trends and the depreciation of the Pakistani rupee against major currencies.
The performance of the PSX declined during the day but certain traders have hope that the market can rebound in the following weeks if the economic and political environment becomes more favorable. However, due to the current sole uncertainties in the market, many investors are now being very careful and don’t invest in properties as before awaiting to see when the market will gain stability.
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