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.