The benchmark index for the stock market started the day strongly, rising to an intraday high of 79,014.68. Nevertheless, the index dropped to the intraday low of 78,240.36 in the second half of the session due to profit-taking. After settling at 78,283.29, the index decreased by 204.92 points, or 0.26 percent.
According to Arif Habib Corporation’s Ahsan Mehanti, equities ended the day lower due to concerns about the outcome of continuing regulatory oversight on share trading for the public interest and economic uncertainties.
According to Mr. Mehanti, midsession support was observed on the strength of positive CPI inflation data for August, which came in at 9.6pc year over year.
The pessimistic finish was sparked by political clamour and uncertainty surrounding IMF approvals of a power rate decrease with a Rs. 2.8 trillion finance package that was delaying industrial closures.
