PSX extends downward trend as KSE-100 sheds 250 points

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index extended its downward trend on Tuesday, closing at 74,956 points. This marks a decline of 250.10 points, or 0.33 per cent, from its previous close of 75,206 points.

After achieving a record high closing last week, the KSE-100 index saw significant volatility during the trading session. It reached an intraday high of 75,513 points before dipping to an intraday low of 74,835 points.

Despite the current downturn, the PSX remains a focal point for investors, with ongoing interest in key sectors expected to drive future market movements.

Out of the 100 index companies, 34 closed up, 63 closed down, 2 were unchanged, and 1 remained untraded.

The KSE-100 index was weighed down by Commercial Banks (56.4 points), Cement (55.53 points), Automobile Parts & Accessories (41.56 points), Oil & Gas Marketing Companies (41.24 points), and Miscellaneous (28.85 points).

Conversely, the index received support from Power Generation & Distribution (67.41 points), Technology & Communication (41.68 points), Investment Banks / Investment Companies / Securities Companies (14.35 points), Leather & Tanneries (4.02 points), and Insurance (3.45 points).

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