PSX dips as KSE 100 index down 2800 points in two days

The Pakistan Stock Exchange (PSX) closed significantly lower on Wednesday as profit-taking dragged the benchmark KSE-100 index down by 2800 points in the last two days after historic rally, reported 24NewsHDTV Channel. 

The KSE-100 index down 532 points on Wednesday and settled at 165641 points from historic 166000 points. The sell-off was driven by investor concern over complications in government's talks with the International Monetary Fund (IMF). 

Reports suggested that the IMF had raised concern over inconsistencies in trade data reported by the Pakistan Single Window and the Pakistan Revenue Automation Limited. Analysts termed the market correction a temporary pause and expected investor confidence to return soon.