Pakistan Stock Exchange recorded an overall decline in share prices for the second consecutive trading day on Tuesday. The KSE-100 Index fell 814.44 points from its previous close due to selling pressure from investors.
At the close of business, the benchmark index stood at 165,151.64 points, down 0.49 percent from the previous session’s 165,966.08 points. During the day, the index touched a high of 166,425.56 points and a low of 165,111.14 points. Thus, a fluctuation of about 1,314 points was seen during trading activities.
Interest rate expectations are also being discussed against the backdrop of the negative trend in the market. According to market sources, the possibility of an interest rate hike in the monetary policy meeting to be held on October 26 has increased investor concerns. However, the final decision on any change in interest rates will be taken by the State Bank.
According to business data, about 446.8 million shares were traded in the ready market, with a total value of more than Rs 19.42 billion. The total market capitalization value came to about Rs 18,308 billion, which is about Rs 119 billion less than the previous session.
The performance of shares was also generally negative. Out of 499 companies participating in the trade, 128 increased their share prices, 324 recorded a decrease, while 47 companies remained unchanged.
The decline for two consecutive sessions shows that investors are adopting a cautious attitude. Monetary policy decisions and economic conditions may affect the direction of the market in the coming trading days.
