Despite Thursday’s decline, PSX opens Friday on a positive sentiment

KARACHI: The KSE-100 Index of the Pakistan Stock Exchange (PSX) experienced a downward trend on Thursday, shedding 216.06 points, closing at 85,453.22 points.

The decline comes after three days of constant rally, with the benchmark KSE-100 index touching the highest ever, over 86,000 points on Wednesday.

Trading volume during yesterday’s (Thursday) session reached 503.75 million shares, a decrease from the 596.05 million shares traded the day before. The total value of traded shares was Rs 27.91 billion, also lower than the previous day’s Rs 31.34 billion.

PSX reverses early gains but remains above 85,000 level

Market analysts noted that the market’s volatility to profit taking. While the lowering inflation and improving economic indicators kept the investor sentiment strong, profit taking dampened the market.

The highest of the day was recorded at 86,451.43 points, while the lowest was clocked at 85,444 points, before the index closed at 85,453.22 points.

Friday’s opening brought some quick gains with the index jumping 183.67 points to hover around 85,636.89 points, minutes into trading.