PSX plunges 2405 points

The Pakistan Stock Exchange (PSX) witnessed a turbulent session on Thursday, with the benchmark KSE-100 index plunging by 2405 points and hits lowest level of 169173, reported 24NewsHD TV Channel.

The lowest level during the trading session was 168416. The KSE100 Index had closed at 171579 the previous day.

Pakistan Stock Exchange faced immediate selling pressure shortly after the opening bell. The index reached an intra-day high of 171,561.74, but the momentum quickly fizzled out. By midday, the KSE-100 was hovering at 168,828.24, representing a sharp decline of 2,751.06 points, from the previous close of 171,579.30.

Market experts attribute this decline to a combination of technical corrections and cautious sentiment among institutional investors.

Reporter: Kawish Memon