- Web Desk
PSX remains under pressure
- Web Desk
- Sep 05, 2023
KARACHI: Pakistan Stock Exchange remained under pressure throughout the day, after putting quick moderate gains right after opening.
The benchmark KSE-100 index opened at 45,707.42 points and posted quick gains up to 45,950.68 points until midday, before slipping down to 45,491.48 points towards the end of the trading session.
Overall the index lost 215.94 points from the opening position on the second day of the business week, with mixed results from different sectors showing no clear driver behind the rise or fall of the index.
However, the moderate fluctuation of the index can still be counted as improvement upon the recent volatility posted by the stock market. Previous week saw a drastic decline owing to heavy selling Rupee’s depreciation and expectation of interest rate hike.
Yesterday, the index showed signs of improvement on the back of expected investment in various sectors of Pakistan expected to be announced upon the arrival of a Saudi Arabian delegation. The sentiment lasted only a few hours today morning, before the decline set in again.