Stocks stumble as uncertainty prevails over PSX
Business
It must be remembered that the stocks’ journey remained volatile during last week
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) started with bearish trend on Monday amid simmering geopolitical tensions between Pakistan and India following the Pahalgam attack.
The benchmark KSE-100 index was hovering at 113,223.46 after losing nearly 900 points during the opening hours of trading in the PSX. Later, things improved a bit and the index rose to 114,102 points.
Massive selling pressure was observed across key sectors including power generation, oil and gas exploration companies, OMCs, automobile assemblers and commercial banks.
Besides, ley stocks including HUBCO, PSO, SNGPL, MARI, OGDC, PPL, MEBL, NBP and UBL traded in the red due to a lack of clarity in the market.
Read more: PSX suffers massive decline as geopolitical tensions persist
The ongoing decline is said to be linked with India’s possible plans of launching airstrikes after Indian Prime Minister Narendra Modi held a significant 40-minute meeting with Air Chief Marshal VR Chaudhari a day ago.
It must be remembered that the stocks’ journey remained volatile during the last week amid escalating geopolitical tension between Pakistan and India with the benchmark KSE-100 Index closing at 114,114 points.
