100 Index at PSX drops by 786 points to close at 45,851 points
A bearish trend was witnessed at Pakistan Stock Exchange (PSX) on the first day of the week on Monday as the 100 Index dropped by 786 points to close at 45, 851 points, reported 24NewsHD TV channel.
Due to the decrease in the shares’ prices, investors had to face a loss of Rs110 billion.
In interbank, on the other hand, the dollar’s price came down to Rs157.8 after a drop of four paisa, the lowest in the current financial year.
Earlier on the day, the index reached 46, 432 points after an increase of 595 points in the stock market due to the vote of confidence won by Prime Minister Imran Khan on Saturday (March 6).
However, due to profit taking by investors, the index dropped by 988 points to reach 44, 849 points.
While in the international market, gold’s rate dropped by seven dollars to reach Rs1693 per ounce due to which the rate of one tola gold at local market came down by Rs50 to reach Rs0.1million.