KARACHI: The Pakistan Stock Exchange (PSX) Tuesday witnessed fluctuation in trading and lost most of the previous gains as benchmark 100-index shed 77.89 points to drop to 39722.75 points level till midday.
Earlier, the PSX remained flat in early trading with 0.34 points gain to reach 39899.98 points level.
On Monday, the stocks made a new all-time high as the benchmark index hit 39,900. The bank decided to keep the discount rate unchanged at 5.75%, which was the lowest in decades. Foreign investors remained net buyers in the outgoing month, which also helped impart confidence to local buyers.
The KSE-100 index banged an all-time high of 39,917.13, up by 388.31 points and closed at a new all-time highest rate of 39,800.64 with 271.82 points appreciation. The commercial banking sector pushed the index up while the KMI 30 index was supported by the cement sector. The market volumes surged to an impressive 203.78 million with the commercial banking sector in lead. The sector recorded volumes of 26.21 million as it celebrated the State Bank’s decision.
