KARACHI: Pakistan Stock Exchange (PSX) observed anther bloody day as political instability and negative news on the economic front triggered panic selling. The stop-loss strategy adopted by medium and small investors added to the selling pressure.
The Karachi Share Index (KSE-100) lost 828.15 points (0.1.84 per cent) after closing at 44,222.91 points against the previous closing of 45,051.06 points. The market went as high as 45,130.55 points during intra-day trading, while recorded as low as 43,940.88 points.
Today’s 1.8% fall has wiped out all the gains of KSE-100 obtained in 2021, Mohammad Sohail Mohammed Sohail, CEO of Topline Brokerage Firm said in a phone interview after the close of the market. The benchmark index in back at previous year levels, he added.
Trading volume increased to 492.3 million shares today as compared to 459.8 million traded in the previous session, according to PSX website data. The daily traded value declined to Rs 23.4 billion from Rs 24.7 billion in the previous session, the data said.