PSX KSE-100 Index : volatility continued as index sheds 385 points

The Pakistan Stock Exchange (PSX) benchmark KSE-100 Index on Wednesday continued being bearish falling 385 points. Stock market value reduced by 0.61% concluding at 62,448 points.

The market activity graph indicated the index dropped to 61,097 points, losing 1735 points, but restored quickly to 62,448 points.

The KSE-100 index started trading from yesterday’s 62,833 points. The index traded in a range of 2179 points showing an intraday high of 63,261 points and a low of 61,082 points.The total volume of the KSE-100 index was 660.99 million shares.

Analysts interpreted the sharp decline to profit-taking by investors believing the market has reached its peak levels as index gained over 25,000 points or 50% increased in just five months.

The market analysts have a consensus that pre-election uncertainity, leverage issues, profit taking and market corrections were expected, adding the big players are not active in the market.