Fluctuation persists in PSX amid budget uncertainty
Business
Experts say investors are actively selling shares due to uncertainty about upcoming budget
KARACHI (Dunya News) – Stocks continued to fluctuate in the Pakistan Stock Exchange (PSX), with the first trading session ending in the negative zone.
On the fifth and final business day of the week, the stock exchange witnessed a bearish start. With a drop of over 200 points, the benchmark KSE-100 index lost 119,000-point mark and reached 118,723 points.
During trading, the market continued to fluctuate.
However, the trading session ended in the negative zone, with the index closing at 119,140 points, down by 12 points.
In the first session of the stock exchange, trading volume stood at over Rs800 million, with shares worth Rs1.5 billion traded.
Read more: Bulls return to PSX after a day's break
Selling persisted in key sectors including automobile assemblers, commercial banks, oil and gas exploration, OMCs and power generation.
Besides, index-heavy stocks, including HUBCO, PSO, SSGC, MARI, OGDC, PPL, POL, UBL, and NBP, are traded in red.
Experts say investors are actively selling shares due to uncertainty about the upcoming budget.
It is worth mentioning that at the end of the previous business day, the index had closed at 119,153 points, after a decline of 778 points.
