In the midst of an unpredictable political climate, bears tormented the Pakistan Stock Exchange (PSX) today, causing the benchmark KSE-100 index to shed more than 1,100 points at closure.
When trading resumed on Thursday, the benchmark KSE-100 index looked bullish from the opening bell and surged more than 240 points by 9:30 AM. Falling began after ten in the morning.
It registered at 60,926 at 3 PM, a decrease of 1.97 percent or 1,227 points.
KSE-100 dropped 1.82 percent, or 1,133 points, to close at 61,020.
The KSE All share index dropped by 713 points to settle at 41,163, while the KMI 30 index lost 2,469 points to close at 100,992.
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Like always, the political atmosphere was tense, and stock prices suffered all day due to instability. Arif Habib Limited reports that only 14 equities increased and 79 decreased. Today’s poorest performer was Oil & Gas Development Company Limited (PSX: OGDC).
In a quick market overview, the brokerage stated, “February is proving to be a weak seasonal period for the KSE-100 again.”
With nearly 33.3 million shares traded, K-Electric Limited (PSX: KEL) saw the greatest involvement, followed by Media Times Limited (PSX: MDTL) and Pakistan International Airlines Corp (PSX: PIAA). There were 22.4 million and 28.6 million traded shares for the scrips, respectively.
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