Pakistan Stock Exchange sees decline, 100 index drops 793 points
The Pakistan Stock Exchange (PSX) opened trading on Wednesday with a slightly positive trend, but later the market turned bearish and investors adopted a cautious attitude. At the end of the day, the PSX 100 index closed at 166,553 points with a decline of 793 points.
During early trading, the market had reached the level of 168,163 points at one point, but investors adopted a selling trend due to profit-taking and economic uncertainty, which led to the index falling.
The index had closed at 167,346 points yesterday, thus closing today about 800 points lower.
According to experts, the recent decline is the result of the cautious strategy of investors, the IMF program, fluctuations in the value of the rupee and political uncertainties.
Analysts say that the market volatility may continue until the direction of economic policies and the financial sector is clear.
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