As the index fluctuated drastically in erratic trading on Wednesday, stocks fell as high-strung investors sold off their holdings due to dismal corporate earnings and ongoing economic uncertainty.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) closed at 111,487.36, down 543.00 points, or 0.48%, after reaching an intraday high of 112,569.89 but failing to maintain the surge.
The index fell 873.18 points, or 0.78%, from the finish of the previous session at 112,030.36 to its lowest position of 111,157.18.
Sana Tawfik, Head of Research at Arif Habib Limited, observed that poor financial results affected sentiment.
“Rollover week’s impact and corporate financial results that fell short of expectations dragged the index down,” Tawfik stated, adding that market activity was being affected by modifications to futures contracts.
