PSX falls over 1,400 points due to heavy selling

The Pakistan Stock Exchange (PSX) saw a big drop on Tuesday as the KSE-100 Index fell by 1,415 points. The index closed at 137,964.81 points, compared to 139,380.05 points in the previous session.

At the start of the day, the market opened strong and gained over 500 points. However, heavy selling later in the day pushed the index into the red. The highest point of the day was 140,331.01, while the lowest was 137,636.37.

Share trading volume also dropped. A total of 139 million shares were traded on Tuesday, down from 589 million shares on the previous day. The total value of traded shares was Rs22.37 billion, compared to Rs34.56 billion earlier.

Out of 484 companies that traded, 108 saw an increase in their share prices, 350 saw a decrease, and 26 remained unchanged.

Just a day earlier, on Monday, PSX had seen a small gain as investors showed interest in cement and tech stocks. The KSE-100 Index had gone up by 172.77 points to close at 139,380.06.

Tuesday’s fall was mainly due to strong selling pressure, showing investor uncertainty in the current market situation.

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