Tuesday saw a tumultuous stock market as investors remained cautious following recent volatility and optimistic due to stronger macroeconomic indicators.
Political stability and pro-business monetary policies helped the market get off to a strong start, but when profit-taking took over, it began to fluctuate.
As a sign of improved investor confidence, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) first increased 1,112.08 points, or 0.98%, to reach an intraday high of 115,036.49.
However, the index saw strong downward pressure, falling as much as 1,509.61 points, or 1.33%, from the previous close of 113,924.41 to an intraday low of 112,294.42 before finishing at 112,414.80.
“The market is being affected by profit-taking following yesterday’s increase,” Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, told television.
