PSX plunges over 2,000 points amid caution
The Pakistan Stock Exchange (PSX) extended its losing streak for a fifth consecutive session on Tuesday, with equity investors losing another Rs239 billion as sentiment remained subdued despite the central bank maintaining its policy rate at 11 per cent in its fourth monetary policy review the other day. According to Topline Securities Ltd, the benchmark KSE-100 index traded in a volatile manner, swinging between sharp gains and steep losses. The session opened positively, rising 1,216 points to hit an intraday high of 163,380.67, but the momentum faded as selling pressure intensified. The index hit an intraday low of 2,358 points at 159,805.35 before closing at 160,101.03, down 2,062.78 points or 1.27pc. Analysts attributed the mixed performance to the futures rollover week and a series of corporate earnings announcements, which prompted cautious trading and profit-taking. Investors are now watching upcoming results and rollover adjustments for market direction.