PSX closes on negative note, lost 80 points

KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) on Thursday dropped 80.49 points, a negative change of 0.11 percent, and closed at 71,971.40 points against 72,051.89 points the previous trading day, ARY News reported.

In today’s trading session, the benchmark exhibits a range of movement, with the high touching 72,593.25 points and the low at 71,700.53 points.

A total of 798,527,177 shares valuing Rs.27.542 billion were traded during the day against a total of 599,401,643 shares valuing Rs. 24.459 billion the last day.

However, some 389 companies transacted their shares in the stock market; 173 of them recorded gains, and 191 sustained losses, whereas the share prices of 25 remained unchanged.

A day earlier, the PSX achieved a new milestone as shares climbed 900 points to breach the key 72,000 points for the first time.

The benchmark KSE-100 index gained 854.19 to stand at 72,213.59 in the intraday trading from the previous close of 71,359.40 points.

Topline Securities CEO Muhammad Sohail said that the KSE-100 index has set another record. He said that consumer inflation is expected to decrease after a record current account surplus.

This remarkable achievement reflects investors’ confidence in the country’s economic prospects and signals robust growth prospects in the foreseeable future.

The KSE-100 index breached the key 71,000 level on Monday.

On Tuesday, the Pakistan Stock Exchange witnessed a volatile session, with the KSE-100 Index shedding 74.06 points (-0.10 percent) to close at 71,359.40 points.

The market opened on a sharp positive note; however, trading remained volatile throughout the session as the index swayed both ways.

The index came under heavy selling pressure in the last 45 minutes amid profit-taking; otherwise, the session had remained range-bound.