Stock market sheds 147 points to close at 45,865 points

PSX Pakistan Stock Exchange Karachi Stock Exchange

KARACHI: The Pakistan Stock Exchange (PSX) experienced a fluctuating day of trading as the 100 index saw a significant decline of 147 points.

Early in the morning, the KSE-100 index continued to ride the positive wave, swiftly accumulating 161 points to reach 46,174.68 points. Yet, by midday, it veered in the opposite direction, slipping below 40 points from the opening level. In the evening , the KSE-100 found itself hovering around 45,865 points.

Another notable aspect was the remarkably low trading volumes. On Monday morning, only a modest 79 million shares changed hands, indicative of cautious investor sentiment. This trend of lower trading volumes had been observed in the preceding week as well.

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The market’s fluctuations remained relatively slender throughout the week, hinting at investors’ attempts to maintain stability in the face of concerns over potential interest rate increases. Positive developments on the government’s front, including the announcement of potential investments from the United Arab Emirates (UAE), also contributed to stabilising the index.

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