As profit-taking causes shares to drop 300 points, bears return to the PSX.
Despite starting the day on a high note, the Pakistan Stock Exchange (PSX) quickly saw pressure as pessimism set in.
The market momentum decreased as a result of profit-taking by investors hoping to profit from last week’s significant gains.
As selling pressure increased in several important sectors, the initial optimism swiftly subsided and the index fell.
The KSE-100 index saw a negative change of 0.23 percent during intraday trading, falling 308.01 points to 133,062.13 points after hitting a record high of 133,809.25 points.
The KSE-100 index had a bullish trend the day before, closing at 133,370.15 points after rising 1,421.08 points, or 1.08 percent.
Throughout the day, 919,907,440 shares valued at Rs45.311 billion were exchanged.
Of the 479 companies that traded their shares on the stock exchange, 299 saw profits and 155 experienced losses, while the share prices of 25 companies stayed the same.
