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KARACHI: Bearish trend has returned to the Pakistan Stock Exchange (PSX) as the KSE-100 Index lost 244 points to trade at 28,987 points.
When the market opened today, the KSE-100 Index was at 29231 for some time, but this positive trend could not be sustained for long. Due to a lack of business activity because of the lockdown, there is no sustainability in the bullish trend and the index had dropped sharply.
The first trading day of this week saw the stock market plunge due to the worsening economic conditions. The benchmark KSE 100 index declined by 86.18 points (0.31%) and closed at 28,038.39 points.
The bourse observed a downward trajectory in the early hours of trading and dropped over 257 points by noon. The indices dropped below the 28,000 level during intra-day trading before gaining momentum.
The total volume of shares was 127.645 million at a value of Rs3.856 billion. However, on Tuesday, the KSE-100 Index closed at 29,231.63 points after a bull-run at the PSX with a positive change of 1208.24 points.
Read more: PSX continues downward trajectory in early trading hours