Web Desk The Pakistan Stock Exchange witnessed a significant decline at the close of business today, with a sharp decline in the KSE-100 index disturbing investors.
At the close of the market, the index closed at 160,591 points, a significant decline compared to the start of the day. The business started at 161,837 points, while during trading the index also reached a high of 163,612, however, the market later came down due to intense selling pressure.
According to experts, this decline in the market was mainly due to profit-taking, uncertain economic situation and global market pressure.
According to market data:
The index fell by 6,600 points
A total negative change of 3.95% was recorded
Sectorally, a few stocks tried to support the market, however, the decline in major banking and industrial stocks kept the overall trend negative.
Among Pullers: Stocks like UBL, FFC, LUCK played a positive role, While among Draggers: FFC, UBL and ENGROH played a major role in bringing the market down.
The trading volume in the market was 324.64 million shares, which shows moderate activity.
The market is up 27.83% since the beginning of the financial year, however, it has seen a decline of 7.73% on a calendar year basis, which is a cause of concern for investors.
Experts say that in the current situation, the market may remain prone to short-term volatility, while investors need to adopt a cautious strategy.
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