Bears continued their stampede on Tuesday on the trading floor as shares at the Pakistan Stock Exchange (PSX) declined by more than 700 points in intraday trade.
The benchmark KSE-100 index declined 768.80 points, or 0.66 per cent, to stand at 115,486.32 points at 11:04am from the previous close of 116,255.12.
Yesterday, shares became bearish as news flow on political and economic fronts turned investors jittery, triggering profit-selling, forcing the benchmark KSE 100 index to close in the red.
An analyst attributed the momentum to political uncertainty, and the International Monetary Fund (IMF)’s strict levies on industrial captive power plants led to institutional profit-taking.
He added that subdued economic growth at 0.92pc for the July-September quarter and concerns about the outcome of critical economic reforms to qualify for the second $1bn tranche in March dampened investor sentiments.
More to follow
