PSX closes lower after early surge, 100 Index drops by 1,405 points

(Web Desk): A mixed trend was observed in the Pakistan Stock Exchange (PSX) on Monday during trading hours.

At the beginning of the day, investors showed strong interest in the market and preferred to buy shares, resulting in a notable increase of 1,189 points in the 100 Index, which crossed the 116,600-point level.

However, as the day progressed, profit-taking became the dominant trend, and investors began selling to lock in profits. As a result of this pressure, the 100 Index recorded a significant decrease of 1,405 points by the close of business, ending at 114,063 points.

A total of 42 crore shares were traded across 449 companies, with a total value of Rs26.26 billion.

According to analysts, despite the initial bullish trend, the market faced pressure due to global financial concerns and the cautious strategy of local investors. The market's direction in the coming days will depend on economic and political conditions.