Stock Market Witnesses Volatility, 100-Index Closes in Negative Zone
KARACHI: The Pakistan Stock Exchange (PSX) suffered a dramatic turnaround today, trading in the red after a bearish sentiment took the upper hand, as the benchmark 100 index finished in the red.
The stock exchange had a strong bull market rally at the beginning of the second day of the week’s trading. The KSE-100 index rose by more than 800 points during early hours reaching an all-time high of 177,800 points.
Sudden Reversal and Closing Figures
But the trading floor experienced a sudden downturn in the middle of the trading session and remained so until the final closing bell. The 100-index of the stock market thus crashed by 508 points to reach the 176,466 points level.
Interestingly, at the end of the last business day, the stock exchange 100-index stood at 176,975.