PSX fluctuates as global stocks jitter

KARACHI: The Pakistan Stock Exchange (PSX) opened Tuesday on Monday’s closing of 118,383.38 points, and almost instantly jumped nearly 200 points. However, soon after the fluctuations set in and the benchmark KSE-100 index dropped to the day’s lowest at 118,161.67 points.

Monday brought bullish sentiment when the market closed with over 1,000 points gain. However, Tuesday opened after the three major global stock markets were thrown into disarray after US President Trump’s tirade against US Federal Reserve Chair Jerome Powell. The cryptocurrency market also followed suit on Monday evening.

Wall St ends sharply lower following Trump’s anti-Powell tirade

Some of this decline seeped into KSE-100 index as well, and despite some periodic recovery seen throughout the morning, the market remained unstable. Around noon, the market had recovered the losses and was trading in green, but the investor confidence remained caution.

At 11:45 AM, the PSX looked like this: