Investors have incurred substantial losses due to a bearish trend in the Pakistan stock market, which has been further exacerbated by recent terrorist attacks in Balochistan, keeping the market under pressure for the second consecutive day.
On Tuesday, trading initially showed promise, with the index rising by 287 points. However, this upward momentum was quickly reversed as sectors such as banking, IT, oil, and gas witnessed a sell-off aimed at securing quick profits, which ultimately turned gains into losses. The market experienced a significant drop, plummeting by 493 points at one stage.
Toward the end of the trading day, the decline’s severity was somewhat mitigated by increased buying at lower prices, driven by favourable financial results. Nevertheless, ongoing challenges, including law and order concerns, a traders’ strike, and rollover week activities, weighed heavily on the Pakistan Stock Exchange. Consequently, 51% of share prices fell.
The 100 Index closed the day by 486.82 points, settling at 78,084.24 points, leading to an additional loss of approximately 53.99 billion rupees for investors. A total of 59.15 million shares were traded on Tuesday across 436 companies. Of these, 163 companies recorded price gains, 222 saw declines, and 51 remained unchanged.
It is important to note that the Pakistan Stock Exchange has experienced a bearish trend at the start of the trading week for the third consecutive time. After reaching a peak above 81,000 points just a few weeks ago, the market has been on a consistent downward trajectory over the past three weeks.
