PSX sheds over 2,500 points after opening in green

KARACHI: On the second trading day of the week, the Pakistan Stock Exchange (PSX) opened in the green but experienced fluctuations in the initial trading hours.

The benchmark KSE-100 index was recorded at 116,843.41 points, having risen by 588.29 points around 9:33 AM compared to the previous day’s close of 116,255.12 points.

However, the market quickly dipped, falling by 179.78 points to 116,075.34 at 9:52 AM.

A few minutes later, the PSX started reversing its early losses and re-entered positive territory around 9:58 AM, rising by 306.99 points to 116,562.11, a 0.26 per cent increase from the previous close. During this period, the trading volume stood at 34,543,323 shares.

By 10:37 AM, the KSE-100 index extended its losses, dropping by 1,155.33 points to 115,099.79 points.

Looking at the 52-week range, the PSX has traded between 59,191.86 and 118,735.10 points.

Among the KSE-100 companies trading in the green, JDWS was up by 9.78 per cent to 821, MEHT rose by 8.35 per cent to 688.88, PSEL climbed 8.13 per cent to 909.00, ENGROH increased by 8.02 per cent to 256.99, and FCCL gained 3.04 per cent to 34.59.

In contrast, stocks trading in the red included FCEL, down by 12.79 per cent to 6.07, DFSM down by 10.06 per cent to 4.20, FRCL down by 10.00 per cent to 253.51, and PGLC down by 10.00 per cent to 22.68.

Overall, the top decliners were FCEL, down by 12.79 per cent, ALAC down by 11.33 per cent, FRCL down by 10 per cent, HAFL down by 28.17 per cent, and PECO down by 10 per cent.

The stock market witnessed a major decline around 12:01 PM as the KSE-100 index dropped by 2,000.46 points to 114,254.66, with the trading volume at 190,696,250.

After 12:28 PM, the PSX continued its downward slide, dipping by 2,577.62 points to 113,677.50, marking a new low for the day as of 12:43 PM.

Updated: 12:45 PM

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