PSX Slides Sharply as KSE-100 Loses Momentum

KARACHI: (Web Desk) – The Pakistan Stock Exchange came under notable pressure during the outgoing business week as heavy selling dampened market sentiment and kept investors on the sidelines.

The benchmark KSE-100 Index recorded a steep weekly decline of 6,434 points to close at 173,169 points. Market volatility remained pronounced with the index swinging sharply within a wide range of more than 10,000 points.

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Over the course of the week the index climbed to a peak of 179,696 points but later slipped to a low of 169,592 points reflecting uncertainty driven by economic and policy concerns.

Despite the downward trend trading volumes stayed healthy as 3.26 billion shares were exchanged with a total value of Rs187 billion. However sustained sell offs eroded market capitalization which dropped by Rs756 billion to stand at Rs19,602 billion by the end of the week.