In the early hours of Tuesday’s intra-day trading, the Pakistan Stock Market (PSX) saw a notable downturn, with its points falling below the 60,000 mark.
The drop was primarily reflected in the Karachi Stock Exchange (KSE-100) index of PSX, which experienced a significant decline of 1021 points. As a result, the market was trading at 60,684.47 points, indicating a percentage change of 1.26.
Last week, the benchmark KSE-100 index of PSX underwent a sharp fall, losing over 2,600 points during intra-day trading on Tuesday. This steep decline brought the 100 index below the 63,000 points threshold, with the market reportedly trading around 62,571 points at approximately 2:30 pm. Before this downturn, the KSE-100 index had maintained a bullish run for over a month, buoyed by the successful conclusion of a staff-level deal with the International Monetary Fund (IMF).
Factors Influencing the Bearish Trend
Market experts attribute the current bearish trend to weaknesses in key sectors such as exploration and production (E&P), fertilizer, and banking. These sectors have been significant contributors to the recent fluctuations in the market, driving the downward movement of the KSE-100 index.
The ongoing shifts in these industries continue to shape the overall market trajectory, highlighting the dynamic nature of the PSX.
 witnessed a major decline in its points, dropping below the 60,000 mark. The KSE-100 index faced a significant loss, reflecting the bearish trend influenced by key sectors){kind=link}