KARACHI: The Pakistan Stock Exchange (PSX) experienced volatility during the previous week, but it was able to turn around in the last moments. On the other hand, Monday maintained Friday’s gains but ended the day lower than before.
The decreasing trend persisted on Tuesday, and it became even more pronounced on Wednesday.
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The geopolitical concerns that arose early today caused the index to decline by more than 1,000 points. The benchmark KSE-100 index dropped sharply to 62,528.55 points after opening at 63,567.33 points.
By midday, the stock market had regained some of its losses and was trading at 63,158.83 points, about 400 points below its starting level.
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The stock market as a whole was almost entirely seen trading in red, with the decline in value being attributed to border tensions with neighboring Iran.
Experts predict that the delivery of the IMF tranche and the recovery of the Rupee would support investor mood in addition to this immediate cause.
