PSX in red as KSE-100 crashes by over 1,200 points

KARACHI: The Pakistan Stock Exchange (PSX) opened with a slight temporary gain on the last trading day of the week, as the benchmark KSE-100 index stood at 117,484.89 around 9:16 AM, showing a rise of 365.23 points.

The stock market extended its gains, reaching 117,732.07 by 9:30 AM, reflecting an increase of 612.42 points, with the volume at 19,447,524 shares.

The PSX continued its upward momentum, climbing by 703 points to reach 117,823.59 around 9:34 AM. However, the KSE-100 index suddenly reversed its gains and fell into the red, dropping by 557.98 points to 116,561.67.

The downward trend persisted, with the PSX losing 1,213.99 points to stand at 115,905.66 around 10:14 AM, marking a decline of 1.01 per cent.

Among the KSE-100 companies, those in the red included PIOC, down by 5.66 per cent; CHCC, down by 5.19 per cent; FCCL, down by 4.91 per cent; KEL, down by 4.81 per cent; and LUCK, down by 4.40 per cent.

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