Pakistan Stock Exchange Sees Decline as KSE-100 Index Falls by 198 Points
Index Reached Peak of 83,000 Before Declining Amid Profit-Taking
The Pakistan Stock Exchange (PSX) experienced a downturn on Friday, with the benchmark KSE-100 Index dropping by 198 points to settle at 81,459 points.
This decline follows a period of relative stability, prompting investors to closely monitor upcoming economic developments and corporate earnings reports.
On Thursday, the PSX had reached an all-time high, fueled by optimistic market sentiment following the approval of the International Monetary Fund (IMF) loan program. At one point, the index surged to a remarkable peak of 83,000 points, marking the highest level in the stock market’s history.
During the trading session on Thursday, the KSE-100 Index saw a significant gain of 450 points, reaching a record 82,700 points. The IMF’s endorsement of the loan program was viewed as a substantial boost to the nation’s financial stability, which stimulated increased trading activity and helped the stock market climb by over 600 points at the beginning of trading. Ultimately, the KSE-100 Index rose by 635 points, reaching a record high of 82,900 points.
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