Stock market opens on a cautious approach after three consecutive losses

KARACHI: The Pakistan Stock Exchange (PSX) opens today on yesterday’s closing of 70,657.64 points.

Yesterday, the benchmark KSE-100 index lost 444.90 points after posting growth in the early hours of trading. Since the beginning of this week, the index has been following a similar trend of recovery in the morning followed by deterioration towards the closing.

PSX rebounds at opening then falters by close, again!

On Monday, the index lost over 1,000 points. On Tuesday, PSX fell by 600 points and after Wednesday’s holiday, once again KSE-100 index dropped nearly 450 points on Thursday.

Industry experts are of the opinion that after the positive trend seen through last week, investors built up their investments in certain companies, causing the KSE 100 index to reach new record levels. However, later in the day, when the index was at its highest point, profit-taking causing the index to lose some of its earlier gains.