The Pakistan Stock Exchange experienced significant fluctuations on Monday, with the KSE-100 index swinging from positive to negative territory. Despite an initial surge, the market faced a downturn a short while later.
At the start of the trading day, the KSE-100 index showed a promising increase of 383 points, reaching a peak of 79,194 points. This rise restored the 79,000-point threshold, indicating a booming trend in business startups and investor confidence.
However, the positive momentum did not last. A short while later, the KSE-100 index dropped by 160 points from its peak, settling at 78,650 points. This downturn erased the earlier gains and brought the index below the critical 79,000-point mark.
Also Read: US Dollar appreciates slightly against Pakistani Rupee
The fluctuations in the stock market highlight the volatility and uncertainty facing investors. Market analysts attribute these swings to a combination of profit-taking by investors, macroeconomic factors, and global market trends. The inability to maintain the 79,000-point threshold underscores the challenges in sustaining market gains amid economic pressures.
Meanwhile, the dollar has further appreciated against the rupee in the exchange market, reflecting ongoing fluctuations in currency values.
On the first day of the business week, the dollar increased by nine paisas, reaching Rs278.60 in the interbank market, according to currency dealers.
