KARACHI: The Pakistan Stock Exchange (PSX) recorded the fourth largest decline in its history and the third biggest drop of the current year on Monday.
Trading at the PSX ended on a sharply negative note, with the market losing five psychological levels in a single session. The benchmark KSE-100 Index plunged by 5,478 points to close at 167,691 points.
During intraday trading, the index witnessed a massive decline of 6,283 points.
Heavy selling pressure was observed in banking, fertilizer, oil and gas, energy, and cement sector stocks. Despite the sharp downturn, trading activity remained significant, with 450 million shares exchanged, valued at approximately Rs25 billion.
Market analysts attributed the decline to widespread selling across key sectors, although further details regarding the specific triggers were not immediately available.
