Significant Decline Witnessed in Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) has undergone a notable decline, with points falling below the 60,200 mark in the early hours of intra-day trading on Tuesday. At 10:40 am, the benchmark KSE-100 index witnessed a negative trend, losing 1460.86 points. The market is currently trading at 60,244.23 points with a percent change of -2.37%. Market analysts suggest that investors opted to book profits in the previous week, leading to the benchmark index closing in the red. They anticipate a possible market correction in the future. PSX exhibited its worst weekly performance since the Covid-19 crash, experiencing a 6.69% week-on-week decline, shedding 4,425 points. Meanwhile, the Pakistani Rupee (PKR) continued its appreciation, gaining 0.26% week-on-week against the US dollar and closing at PKR 282.53 over the weekend.”