Bearish trend weighs heavy on PSX as shares plummet over 1,000 points – Business


Bears continued to dominate the Pakistan Stock Exchange (PSX) on Wednesday as the benchmark index misplaced greater than 1,000 points throughout intraday buying and selling.

According to the PSX website, the KSE-100 index plunged by 1484.58 points at 1:40pm to sink to 61,348.45, down 2.62pc from the earlier shut of 62,833.03 points.

A day earlier, the benchmark of consultant shares witnessed the second-largest in a single day fall within the 32-12 months historical past. As many as 94 shares of the KSE-100 index took a beating.

Analysts attributed the sharp decline to revenue-taking by traders who believed the market was heating up after a speedy acquire of 25,000 points in the previous couple of months.

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