PSX faces substantial decline, points dip below 61,000 mark

KARACHI: During the early hours of the intra-day trading on Tuesday, the Pakistan Stock Market (PSX) experienced a significant decline, with points dropping below the 61,000 mark, ARY News reported on Tuesday.

The benchmark, Karachi Stock Exchange (KSE-100) index of PSX witnessed a decline of 1021 points after which the market is currently trading at 60684.47 points with a percent change of 1.26.

Last week, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) plunged over 2,600 points during intra-day trading on Tuesday.

According to the market, the PSX lost 2,633 points and the 100 index dropped below the 63,000 points mark.

The market was reported trading at 62,571 around 2:30 pm.

The benchmark KSE-100 index maintained its bullish run for over a month, following the successful conclusion of a staff-level deal with the International Monetary Fund (IMF).

According to market experts, the bearish trend was mainly fuelled by stocks in the exploration and production (E&P), fertilizer and banking sectors.