In Karachi, the Pakistan Stock Exchange (PSX) witnessed a sharp decline of more than 2,600 points in the benchmark KSE-100 index during intra-day trading on Tuesday.
Reports from the market indicated a loss of 2,633 points, causing the 100 index to dip below the 63,000-point mark. By 2:30 pm, trading data showed the market at 62,571.
The KSE-100 index had been on a bullish streak for over a month post the successful conclusion of an agreement with the International Monetary Fund (IMF), but this downturn signaled a change.
Market analysts attributed this bearish trend to stocks in sectors like exploration and production (E&P), fertilizer, and banking, prompting profit-taking activities. Throughout the session, fluctuations of over 2,500 points were observed in the index.
