KARACHI: There was a continuous rise from the start of the month. But following the recent terrorism wave i.e seven bomb blast with five days across Pakistan cause mistrust among the investors and today KSE-100 index shed 446 points in the final one hour of trading that took the KSE-100 below 49,000.
After opening positive, the benchmark-100 index nosedived to lose as much as 510 points in intra-day trading as concerns over security and tighter regulations deterred investors.
At close on Monday, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a fall of 0.90% or 446.59 points to end at 48,929.12.
According to Elixir Securities, stocks traded listless in the morning and struggled for direction, resulting in benchmark KSE-100 Index trading in a narrow range and hopping between green and red for most part of the day. Notable index names then succumbed to selling pressure and dragged the KSE-100 Index below 49,000 level.