The Pakistan Stock Exchange (PSX) saw a notable decline today, with a drop of 467 points during intra-day trading, bringing the index to 79,524.98 points, marking a 0.59% decrease from the previous day’s close at 79,992.35 points.
Yesterday, the PSX had recorded a modest gain of 150.80 points, a 0.19% increase, closing at 79,992.35 points compared to Wednesday’s close at 79,841.56 points. However, today’s decline has overshadowed this recent upward movement.
Market analysts attributed the previous bullish trend to government discussions on the privatization of struggling state-owned enterprises (SOEs), which boosted investor confidence.
Despite today’s downturn, the KSE-100 index has shown positive momentum over the past month, achieving a historic high of 81,000 points on June 9. This surge was driven by strong buying activity from both local and foreign investors.
Moreover, the strengthening of the Pakistani rupee against the dollar and optimism surrounding upcoming negotiations with the International Monetary Fund (IMF) have further bolstered market sentiment.
