Bearish trend in the stock market, the index closed at 70 thousand 333 points
The bearish trend prevailed in the market—File: Photo
Karachi: The Pakistan Stock Exchange (PSX) saw business fluctuations and at the end of the day, the KSE-100 index closed at 70,333 points, down from 70,483 points the previous day after a decline of 150.34 points.
In the stock market, although the index had crossed the high level of 70700 points during the trading, but due to selling pressure for profit taking, the boom in the business immediately turned into a bearish and the business activities were muted.
In the Pakistan Stock Market, the KSE-100 index decreased by 150.34 points from 70483.66 points to 70333.32 points.
Due to the downturn in business, investors had to bear a loss of more than 17 billion rupees and the total amount of capital decreased from 98 trillion rupees to 97 trillion rupees, while the prices of 54.59 percent shares also decreased.
The Pakistan Stock Market witnessed a boom in the initial session and the index touched a new high of 70,725 points, but this boom proved to be temporary when the index was seen trading at a low level of 70,037 points.
According to stock experts, the market was pressured by short-term selling as the effects of economic improvement were not immediately visible and speculations of imposing new taxes in the budget in view of the concerns of the strict conditions of the International Monetary Fund (IMF).
In the Pakistan Stock Market, the KSE-100 index decreased by 150.34 points from 70,483.66 points to 70,333.32 points, while the KSE-30 index decreased by 81.97 points to 23,000. Decreased from 202.56 points to close at 23 thousand 120.59 points while KSE All Shares Index decreased from 46 thousand 296.90 points to close at 46 thousand 233.32 points.
Due to the decline in business, the capital of the market decreased by 17 billion 5 billion 19 lakh 89 thousand 157 rupees, as a result of which the total volume of capital decreased from 98 billion 12 billion 73 billion 31 lakh 56 thousand 472 rupees to 97 billion 95 billion 68 billion 11 lakh 67 thousand 315 rupees.
Bearish trend in the stock market, the index closed at 70 thousand 333 points