Karachi: The Pakistan Stock Exchange (PSX) witnessed sharp volatility on Friday, where buying by investors in the early session pushed the index higher, but heavy selling pressure at the end of the day dragged the market into a bearish zone.
During trading, the Benchmark 100 Index at one point rose by 565 points to a high of 123,327 points. However, after that, profit-taking by investors and uncertain economic factors led to rapid selling, as a result of which the index closed at 122,046 points, down 715 points at the end of the day.
According to analysts, the mixed trend in global markets, concerns over inflation and policy rates at the local level, and the uncertain economic situation after the budget have affected investor confidence. Experts have expected that more volatility may be seen in the stock market in the coming days, and investors need to adopt a cautious strategy.
According to economic affairs expert Mubashir Khan:
“The market showed a tendency to take immediate profits by approaching psychological levels. The impact of the budget and the uncertainty in global indicators have forced investors to be cautious.”
Investors are now keeping a close eye on upcoming fiscal policy decisions and possible fluctuations in the value of the rupee.
