PSX sheds 280 points amid cautious trading
The Pakistan Stock Exchange (PSX) remained under pressure during Tuesday’s trading session as investors adopted a cautious approach.
The benchmark KSE-100 Index opened on a weak note and stayed in negative territory during the first half of the session.
By 1pm, the index had dropped 279.65 points, or 0.16%, to 177,982.68 points. It had closed at 178,262.33 points in the previous session.
The market witnessed further pressure shortly after opening. At around 9:39am, the KSE-100 fell to 177,914.38 points, losing 347.95 points, or 0.20%.
The index later recovered some of its early losses but remained below the previous close.
Trading remained volatile during the session. The index reached an intraday high of 179,123 points and a low of 177,903.87 points.
Despite the decline in the benchmark index, market activity remained relatively strong. Around 339.48 million shares were traded during the session.
The total value of shares traded stood at approximately Rs19.71 billion.
Investor sentiment remained subdued as market participants appeared cautious about taking fresh positions. Profit-taking also contributed to the pressure on the benchmark index.
The partial recovery from the morning low indicated some buying interest at lower levels. However, it was not enough to push the index back into positive territory by midday.
Investors continued to monitor market developments and broader economic indicators for direction. The afternoon session was expected to determine whether the index could recover its losses or close the day in negative territory.
