The benchmark KSE-100 index dropped 312 points, closing at 119,649, causing the Pakistan Stock Exchange (PSX) to close the trading day lower.
Although the market temporarily crossed the key 120,000-point threshold during the day, it was unable to sustain it.
Due to cautious investor attitude ahead of the impending federal budget, the market experienced substantial volatility throughout the day. There was significant purchasing activity in pharmaceutical companies notwithstanding the general negative trend.
“After a four-day bullish streak, investors chose to book profits, as all eyes remain on the federal budget and its potential impact on the market,” said Arsalan Ahmed, the Equity Dealer.
