KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Monday, where the 100 index closed at 116,439 points with a major decrease of 2002 points. During the trading day, the index fluctuated in the band of 2540 points and even reached the highest level of 118,797 points, but the pressure remained.
A total of 31 crore shares were traded in the market today for Rs 20.95 billion, while the market capitalization fell by Rs 216 billion to Rs 14,182 billion. At the end of the last trading week, the index had closed at 118,442 points, compared to which today saw a significant decline.
According to experts, the negative trend in the stock market is being attributed to the global financial situation, fluctuation in the value of the rupee, and the cautious attitude of local investors. Investors are now focused on the upcoming trading sessions to see whether the market will stabilize or more pressure will remain.
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