PSX opens in red, KSE-100 plunges over 500 points

KARACHI: The Pakistan Stock Exchange (PSX) opened trading in red as the benchmark KSE-100 index dropped by 63.92 points in the initial minutes of trading.

The PSX was down by 0.05 per cent at 116,375.70 around 9:18 AM, with a trading volume of 273,931 shares.

Within a few minutes, the index further declined. By around 9:25 AM, the KSE-100 index had fallen by 0.44 per cent or 515.51 points to 115,924.11.

The stock market had also closed the previous session in red. After witnessing remarkable gains last week, the benchmark KSE-100 index started the week on a negative note as investors succumbed to selling pressure, concluding Monday’s trading session at 116,439.62, down by 2,002.55 points or 1.69 per cent.

The index traded in a range of 2,540.19 points, with an intraday high of 118,797.70, showing a gain of 355.53 points, and a low of 116,257.51, reflecting a loss of 2,184.66 points. The total volume of the KSE-100 index was 167.11 million shares.

Read next: IMF refuses Pakistan’s demand for reduced taxes on property