The Pakistan Stock Exchange (PSX) witnessed a sharp decline on the first day of the trading week. The PSX 100 Index recorded a significant decline of 1237 points due to selling pressure from investors, after which the index closed at 167,752 points.
The index witnessed significant volatility during the trading session, at one point the index reached a high of 169,326 points while it also fell to a low of 165,997 points. According to experts, the decline was seen due to profit-taking, uncertainty in global markets and concerns about upcoming fiscal policies.
Market analysts say the decline is temporary. “A natural correction was expected in the market after the bullish trend of the past several weeks,” said a Karachi-based stock expert. “Investors are waiting for upcoming budget measures and inflation figures to decide their strategy.”
Although today’s decline is significant, experts believe that the market prospects are positive on a long-term basis, especially when corporate profits are improving and signs of financial stability are showing.
It should be noted that at the end of last week, the PSX 100 index closed at 168,990 points.
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