1 week Ago By News Desk
Pakistan Stock Exchange (PSX) witnessed a volatility day Monday as KSE-100 Index dropped by more than 1,400 points after an intraday high of 116,658.94 points, reported 24NewsHD TV channel. At the final session of trading, the KSE-100 Index lost 1,405.
44 points or -1.23 percent to reach 114,063.90 points.
At the start of the trading, there was brisk buying pushing the index up by about 1,500 points but later the tables were turned. Economic experts said that the market dropped due to profit-taking after the sharp rise earlier in the day. The PSX had opened strongly, buoyed by positive developments over the weekend, including Pakistan’s successful diplomatic efforts at the United Nations Security Council regarding the Pahalgam attack.
This had initially boosted investor confidence, continuing momentum from last week when tensions between Pakistan and India led to significant market volatility. Additionally, reports of progress in US-China trade negotiations helped ease fears of a prolonged trade war, lifting sentiment across global equity markets, including Pakistan's. China, while denying ongoing tariff negotiations, exempted some US goods from retaliatory tariffs, signalling a slightly softer stance.
It has also called for Washington to end threats and pressure tactics to create a conducive environment for dialogue. Pakistan's positive image at the World Bank and IMF Spring Meetings also supported bullish sentiment, alongside robust corporate earnings reports. However, despite the initial surge, investors opted to cash in gains by the end of the session, leading to the market’s eventual decline.
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