PSX nosedives nearly 2,500 amid selling pressure

2 months ago 38

KARACHI – The Pakistan Stock Exchange saw a bloodbath during intraday trading on Tuesday as the benchmark KSE-100 Index plunged nearly 2,500 points, dropping below the record-breaking 65,000 level due to massive selling pressure.

Till 3:00pm, the KSE-100 has lost 2,441.15 points to drop to 62,763.52 points amid fears of further decline till the closure of the market. The Stocks underwent selling pressure from start of trading session.

Experts are of the view that year-end profit-taking and lack of positive macros were the key reasons behind investors’ selling sentiments at the PSX.

More to follow…