KARACHI: The Pakistan Stock Exchange (PSX) closed today’s trading session with significant losses, as political instability continued to weigh heavily on market sentiment.
After experiencing fluctuations throughout the day, the market started on a positive note, with the 100-index soaring by 1,739 points to reach an all-time high of 99,819 points.
However, the optimism was short-lived, as a sharp reversal led to a rapid decline. By the close of trading, the 100-index had dropped 3,505 points, finishing at 94,574 points, a substantial fall from the day’s peak. The overall decline marked a drop of 5,245 points from the historic high reached earlier.
The sharp downturn was driven by growing political concerns and the actions of the State Bank. The central bank’s decision to lower the minimum profit rates on savings accounts in Islamic banks added further pressure on the market, contributing to investor unease.
