PSX gains over 400 points as buying returns
The Pakistan Stock Exchange (PSX) experienced a volatile session, closing lower after an initial rally failed to sustain momentum. Investors engaged in profit-taking despite positive sentiment driven by oil price fluctuations.
Why it matters
Market volatility in Pakistan reflects broader economic uncertainty and the cautious behavior of investors in emerging markets.
--> Home Business PSX slips 348 points on profit-taking Early rally fades despite Brent crude trading below $105 a barrel
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> Photo: Express KARACHI: An early buying rally failed to hold at the Pakistan Stock Exchange (PSX) on Tuesday as cautious investors shifted to profit-taking, pulling the benchmark KSE-100 Index into the red after it traded higher in the morning amid buying across key sectors.
The index touched an intraday high of 166,070.48 before falling to a low of 164,773.67, eventually settling at 164,776.44, down 347.97 points, or 0.21%.
The market had opened on a positive note, with the KSE-100 Index rising 558.25 points, or 0.34%, to 165,682.66 in early trading. By midday, it was up 470.14 points, or 0.28%, at 165,594.55.
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