KSE-100 volatility indicative of fluctuating investor confidence

KARACHI: The KSE-100 index continues its decline from yesterday’s plunge of 700 points, to further lose 104 points by mid-day on Wednesday.

PSX began the trading day at 46,770 points, mirroring the previous day’s closing, posting a sharp but short-lived hike to 46,857 points within an hour of trading. However, by 11 a.m. the index was hovering over 46,665 points on Wednesday.

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The volatility in the index is reflective of the uncertainty prevailing among the investors, fueled by political conditions as well as the economic deterioration in the country. With inflation projections for August around 28 percent, and constantly depreciating rupee in the international currency market, the sentiment in the stock market is likely to remain numb as well.