A meltdown was Tuesday witnessed at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 index shed over 1,000 points breaching the 40,000 psychological mark, reported 24NewsHD TV channel.

According to the PSX website, the KSE-100 index had opened at 41,367.11 points and gone up 176 points initially.

However, the market began sliding after 10:30am, and around 3:25pm, the index hit 40,313.78 points with a decline of 1,053.33 points.

The index closed at 40,389.07 points, down 978.04 points or 2.36pc.

It is to be noted here that the market’s decline coincided with the rupee falling to an all-time low against the dollar for a second consecutive day.

Reporter: Habib Khan