PSX tumbles as KSE-100 index drops by 1,578 points
The index drops by 2.01% to 78,539 points, three days after reaching an all-time high of 81,800 points
Islamabad
The trading week started on a bearish note, with the Pakistan Stock Exchange (PSX) experiencing a significant drop compared to previous weeks which was marked with high points and investors’ confidence.
The KSE 100 Index marked a sharp decline of 1578 points or 2.01% to reach 78,539 points, three days after it reached an all-time high of 81,800 points during intraday trade.
Today, The market opened with a decline of 391 points, bringing the index down to 79,726 points. As the day progressed, the PSX saw a further drop of 517 points, causing the KSE 100 Index to fall further to the 79,600 points level.
On Friday, the stock market experienced a severe downturn and dropped by 1,721 points to reach 80,117 points but it recovered shortly by Sunday, where bulls staged a comeback and pushed the KSE-100 index to an all-time high above 80,000 points.
PSX experienced a revival of investor interest during the short three-day trading week, where bulls staged a comeback and pushed the KSE-100 index to an all-time high above 80,000 points.
