Pakistan

PSX plummets by over 1,721 points after hitting record high

The drop represents a 2.15% decrease from its recent all-time high of 81,839 points

News Desk July 19, 2024

The regulatory regime has drastically improved over a decade or so. Right now, everyone has access to information via prompt dissemination of company results and material notices on the PSX. Photo: REUTERS

The Pakistan Stock Exchange (PSX) experienced a significant decline and closed at 80,117 after experiencing a significant decline of 1,721 points.

This drop represents a 2.15% decline from yesterday's all-time high of 81,839 points.

Yesterday, PSX surged to new heights, gaining 684 points to close at an all-time high of 81,839 points. This remarkable 0.84% increase from the previous close of 81,156 points showcases a bullish momentum in the market.

Read: PSX hits fresh peak on IMF deal

Earlier on Tuesday, KSE-100 maintained a bullish trend and gained 1,367 points to hover at 81,320.88 points with 1.72% positive change as compared to the previous closing of 79,944.09 points.

Experts have attributed the bullish trend to various factors including the privatization and staff-level agreement with the International Monetary Fund (IMF).