Bears take charge at PSX as KSE-100 index drops by 50 points
The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Wednesday morning, with the benchmark KSE-100 Index falling by 49.78 points.
By 11 a.m., the market stood at 114,478.30 points, marking a 0.04% decline from the previous session’s closing of 114,528.08 points.
The trading day started on a positive note, with the index surging to 114,762.92 points after gaining over 200 points. However, the bullish momentum was short-lived as selling pressure took over, dragging the index down to 114,219.95. While some losses were recovered, the market remained in the red by mid-morning.
On Tuesday, the PSX had maintained a bullish trend, gaining 197 points by the session’s close. The market opened strong on the second trading day of the week, with the KSE-100 Index soaring by over 1,500 points. However, profit-taking led to a downturn, though the index remained in positive territory until the end of trading.
By 3:30 p.m. on Tuesday, the KSE-100 Index closed at 114,528.08 points, up 197 points from Monday’s 114,330.10 points, reflecting a 0.17% gain.
The highest level recorded during Tuesday’s session was 115,889.60 points, while the lowest dipped to 114,178.55 points.
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