PSX tumbles over 1,100 points as profit-taking erases early gains
The Pakistan Stock Exchange's KSE-100 index fell by over 1,100 points due to broad-based profit-taking across major sectors. Investors remained cautious amid global market volatility and uncertainty regarding oil prices and geopolitical tensions.
Why it matters
Market volatility in emerging economies often reflects broader global economic anxieties and investor risk aversion.
--> Home Business PSX tumbles over 1,100 points as profit-taking erases early gains Heavy selling in banks, E&Ps, cement and fertiliser stocks drags benchmark down 1,117 points
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> Photo: Express KARACHI: The Pakistan Stock Exchange (PSX) endured a topsy-turvy session on Tuesday, with the benchmark KSE-100 index reversing sharp early gains to close more than 1,100 points lower as broad-based profit-taking swept through heavyweight sectors against a backdrop of cautious global sentiment.
After climbing to an intraday high of 178,768.83 points, the benchmark index steadily lost ground as broad-based selling intensified across commercial banks, oil and gas exploration companies, cement, investment companies and fertiliser stocks. The index eventually settled at 177,083.22, down 1,116.80 points, or 0.63%, after touching an intraday low of 177,043.10.
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