The Pakistan Stock Exchange (PSX) experienced a significant downtrend on the last business day of the week, driven by increased selling pressure as investors moved to take profits.
This decline caused the PSX to fall below the critical 81,000 points threshold.
Despite starting the day with a strong position, the PSX's KSE-100 Index plummeted by more than 1,200 points, and reached 80,629 points around noon. This marks a sharp decline from the previous level of 81,373 points at the start of trading on Friday, indicating a loss of 466 points overall.
Market analysts attributed the bearish trend to technical corrections and rollovers, which have added to the selling pressure. Stockbrokers noted that investors were keen on securing profits after a period of gains, leading to the increased sell-off.
Also Read: Stock exchange hits new all-time high, crosses 81,500 points
Just a day ago, the Pakistan Stock Exchange (PSX) had reached an unprecedented milestone, with the market crossing the 81,500-point mark for the first time in its history.
The bullish trend showed a remarkable increase, propelling the KSE-100 Index up by 600 points to a new high of 81,700 points.
At the start of the trading day after a two-day break, the stock market exhibited a strong bullish trend. This upward momentum saw the stock market initially crossing the 81,500-point level, an all-time high for the PSX. The KSE-100 Index increased by 380 points at the start of trading, reaching 81,525 points.
