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Investor Confidence Shaken as Economic Turmoil Causes KSE-100 to Plunge by Over 1,200 Points


LAHORE MIRROR — The Pakistan Stock Exchange (PSX) experienced a strong bearish trend as the benchmark index recorded a sharp decline of more than 2%, reflecting growing apprehensions about the country’s economic health on Thursday.

Worries about the deteriorating economic situation prompted investors to react anxiously, leading them to sell off shares in anticipation of potential economic instability.

The rupee-dollar parity, which was on the rise, triggered panic among investors, further contributing to the sell-off. In the interbank market, the rupee concluded at 305.54 against the dollar, indicating a depreciation of 0.36%.

From the moment trading commenced, the KSE-100 index faced a severe downward spiral, plummeting by over 1,700 points and dipping below the critical 45,000 mark during intraday trading. This prolonged bearish sentiment prevented the index from making any meaningful gains.

At 02:54 pm, the PSX recorded a value of 44,475.06 after experiencing a significant drop of 1,769.49 points or 3.83% compared to the previous day’s closing value of 46,244.55 points. However, as the trading day progressed, the market displayed a slight recovery and managed to finish just above the 45,000 mark.

Ultimately, the market’s closing figures for the day settled at 45,002.41, reflecting a decline of 1242.14 points or 2.69% in comparison to the closing figures of the preceding day.