Business
PSX experiences fluctuations as 100 Index reaches 52,000
The 100 index showed bullish behavior today, surging 1.04% to surpass the 52,000 mark.
Karachi: The Pakistan Stock Exchange (PSX) witnessed a series of fluctuations today, marking a significant moment as the 100 index surpassed 52,000 after six years.
The day began on a promising note as the 100 index gained 200 points early in the second day of the business week, pushing it over 51,600.
During midday trading, the market displayed a strong bullish trend, resulting in the 100 index reaching beyond the 52,000 mark with a remarkable increase of 1.04%.
However, this peak was short-lived, as the PSX 100 index soon faced a downward correction of over 100 points, dropping back below the 52,000 level.
As of the latest updates, the 100 index has garnered a net gain of 455 points, currently resting at 51,938 points.
In comparison, the PSX 100 index had concluded at 51,812 points at the close of yesterday's trading session.
Concurrently, in the domestic exchange markets, the buying and selling of the US dollar continue to fluctuate around the price of Rs281.