Bears ran riot at the Pakistan Stock Exchange (PSX) today, with the benchmark KSE-100 index losing over 1,900 points in intraday trade after the Supreme Court of Pakistan delayed its own decision on military courts for civilians earlier today.
The benchmark KSE-100 index appeared bearish from the opening bell and immediately dropped into the red zone, losing 1,900+ points after trading resumed on Wednesday.
CEO Topline Securities Mohammed Sohail commented on X, “When you have badla rate at 30% (MTS), then this 2 to 4% correction at PSX is not surprising at all”.
After opening trade at 66,426 points, the benchmark KSE-100 index rose to a new high of 67,095 at 9:35 AM. Later at 2:30 PM, it plunged by up to 1,985 points to 64,441.
At 3 PM, it clocked in at 65,128, down by 1.95 percent or 1,298 points.
This is an intraday market update.
Source: Pro Pakistani