Bears return to stock market as KSE-100 plunges over 1,000 points
Business
PSX experienced a drop of over 1000 points on Friday, with the KSE-100 index falling to 167,812, following a bullish trend the day before amid escalating tensions with Afghanistan.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) experienced a negative trend on the last trading day of the week a day after it witnessed massive gains.
During today’s session, the market witnessed a drop of more than 1000 points, with the KSE-100 benchmark index falling to 167,812 points.
The bearish trend comes amid military escalation between Pakistan and Afghanistan after the Afghan Taliban resorted to unprovoked attack last night.
A day earlier, the benchmark index turned around to bullish trend on Thursday, gaining 4,266.79 points, a positive change of 2.59 percent, to close at 168,893.09 points compared to 164,626.29 points on the previous trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 692,402,897 shares with a traded value of Rs 35.804 billion, against 619,628,014 shares valuing Rs 29.252 billion in the previous session. Market capitalization increased to Rs 19.019 trillion from Rs 18.668 trillion a day earlier.
Out of 488 active companies in the ready market, 291 advanced, 145 declined, and 52 remained unchanged.
