PSX Experiences Volatility Following Record Highs

Business12/10/2024

Image Credits: Geo TV

The Pakistan Stock Exchange (PSX) witnessed significant volatility in recent trading sessions, with the KSE-100 Index experiencing a sharp decline of 1,361.8 points, or 1.24%, to reach a low of 108,608.58 during intraday trading. This decline came after the index had reached a new intraday high of 111,000 points due to a rally of 1,482.06 points (1.35%). The rally was attributed to economic optimism, with inflation dropping to 4.9% in November, the lowest since April 2018. Additionally, remittances reached $14.8 billion during the first five months of FY2025, marking a 33.6% year-on-year increase. The upcoming State Bank of Pakistan monetary policy meeting on December 16 is expected to have significant implications for interest rates, which could further impact the PSX. The recent fluctuations in the PSX are a reflection of the complex economic landscape, with various factors influencing investor sentiment and market performance.

Similar Perspectives

Facts that align with the main story

The KSE-100 Index fell 1,361.8 points, or 1.24%, reaching a low of 108,608.58 during intraday trading.

Intraday highs reached 111,000 points due to a rally of 1,482.06 points (1.35%).

Inflation dropped to 4.9% in November, the lowest since April 2018.

Different Perspectives

Alternative viewpoints by topic

Business>

Inflation Rates See Slight Increase: Key Observations

published 1 day ago

PSX Bounces Back with 3,238.17 Point Gain

published 1 day ago

Profit-taking impacts PSX amid political uncertainties

published 1 day ago

Stock Market Surpasses 116,000 Mark Amid Rate Cut Anticipation

published 7 days ago

Bitcoin Surges to Record $106,000 Amid Trump's Crypto Reserve Plans

published 7 days ago

PSX's Record-Breaking Performance and Economic Indicators

published 8 days ago

Fact Comparison

Fact	The Tribune	Tribune	The News	Geo TV	Dawn
Gold price	Rs276,400 per tola	Rs281,000 per tola	N/A	N/A	N/A
PSX benchmark KSE-100 Index	N/A	N/A	108,608.58	108,608.58	111,452.44
Remittances	N/A	N/A	$14.8 billion	$14.8 billion	N/A
Inflation	N/A	N/A	4.9%	4.9%	N/A
Foreign reserves	N/A	N/A	reinforced by Saudi Arabia's decision to extend a $3 billion deposit for another year	reinforced by Saudi Arabia's decision to extend a $3 billion deposit for another year	N/A
Economic activity	N/A	N/A	petroleum sales hit a 25-month high of 1.58 million tons in November	petroleum sales hit a 25-month high of 1.58 million tons in November	N/A
Ijarah Sukuk auction	N/A	N/A	successful Rs353 billion	successful Rs353 billion	N/A
PSX rally	N/A	N/A	extended for the ninth consecutive session	extended for the ninth consecutive session	N/A
Upcoming event	N/A	N/A	State Bank of Pakistan monetary policy meeting on December 16	State Bank of Pakistan monetary policy meeting on December 16	N/A
The KSE-100 Index fell 1,361.8 points, or 1.24%, reaching a low of 108,608.58 during intraday trading.	N/A	N/A	N/A	✔	✔
Intraday highs reached 111,000 points due to a rally of 1,482.06 points (1.35%).	N/A	N/A	N/A	✔	✔
Inflation dropped to 4.9% in November, the lowest since April 2018.	N/A	N/A	N/A	✔	✔
Remittances reached $14.8 billion during the first five months of FY2025, marking a 33.6% year-on-year increase.	N/A	N/A	N/A	✔	✔
The State Bank of Pakistan monetary policy meeting on December 16 is anticipated to have significant implications for interest rates.	N/A	N/A	N/A	✔	✔