PSX sheds over 2,600 points in intraday trade

KARACHI: 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.

Profit-taking was evident throughout the session with the index fluctuating over 2,500 points.