KARACHI – Market volatility continues at Pakistan Stock Exchange (PSX) as flagship KSE-100 index suffered sharp decline on Thursday.
During the intra-day trading, KSE-100 Index plunged by over 1,200 points, hovering at 111,213, reflecting a drop of 1.25percent. Key sectors, including auto, banks, cement, fertilizers, and refineries, saw significant selling pressure.
POL, ENGRO, NRL, HUBCO, MARI, HBL, FABL, and SILK were all trading in negative territory, contributing to the overall market decline.
Experts link this volatility to year-end selling and rollover pressures. On the global front, Asian markets saw slight upticks on Thursday, supported by earlier gains and thin trading volumes due to the holiday season.
Greenback remained near 2-year high, with traders closely monitoring the Federal Reserve’s interest rate outlook. Markets in several countries remained closed for Christmas holidays.
Traders are now anticipating a 35-basis-point rate cut in 2025, following comments from Federal Reserve Chairman Jerome Powell suggesting fewer rate cuts in the coming year. This shift has led to higher US Treasury yields and a stronger dollar, influencing commodity and gold prices.
Pakistan Stock Exchange powers up by 2,300 points amid massive buying
