PSX loses more than 1000 points
Profit-taking and consolidation of gains continued at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index fell over 1000 points during trading on Tuesday.
Negativity persisted at the bourse throughout the trading session. At 3:20pm, the benchmark index was hovering at 47,435 level, a decline of 951.25 points or 1.97%.
On Monday, the KSE-100 Index had closed lower nearly 200 points as well, settling at 48,386.25, as investors weighed an upcoming new refinery policy and growing fears of a delay in Pakistan’s general elections.
On Tuesday, across-the-board selling was witnessed with index-heavy sectors including automobile assemblers, cement, chemicals, commercial banks, oil and gas manufacturing companies and OMCs trading in the red.
Rupee also registered a marginal decline against the US dollar, depreciating 0.11% during trading on Tuesday.
At around 11:25am, the rupee was hovering at 287.91, a decrease of Re0.32, in the inter-bank market.
