Karachi: The Pakistan Stock Exchange opened on a promising note on Monday, but over time, investors’ cautious attitude pushed the market towards a downtrend.
The 100 index recorded a decline of 379 points during the trading day, after which the market closed at 138,217 points. At the beginning of the day, the index reached a level of 139,201 points; however, selling pressure in the closing hours pushed the index down.
About 600 million shares were traded in today’s session, worth more than Rs 23.52 billion. There was significant activity in trading volume and investment value, but the overall trend remained negative.
It is noteworthy that at the end of last week, the index had crossed the 140,000-point mark for the first time in the country’s history, which had given a new wave of hope to investors. However, this level could not be maintained at the beginning of the new business week.
Economists say that the current volatility is linked to global financial trends, foreign exchange reserves, and the domestic political situation. Factors such as budget policies, IMF negotiations, and the value of the rupee will determine the direction of the stock market in the coming days.
