PSX falters on nervous selling after Trump’s win
After a strong start following an overnight record closing, the stock market tumbled on Wednesday as equity investors became unsettled by the election of Donald Trump as the 47th president of the United States, pushing the KSE 100 index into the red. Talking to Dawn, Tahir Abbas of Arif Habib Ltd said a section of investors indulged in profit-taking after Trump’s win, fearing a change of policies towards Pakistan with a change of leadership at the White House. However, he added that side-by-side buying at dips supported the index in trimming its losses. The benchmark KSE-100 index hit an intraday high of 92,966.95, a gain of 662.62 points, and a low of 91,891.47, down 412.85 points. However, it settled at 92,021.44 after losing 282.88 points or 0.31pc day-on-day. Mr Abbas ruled out any immediate change in US economic policy after the new president takes the oath of office in January.