Shares at the Pakistan Stock Exchange’s benchmark index shed over 1,300 points in the intraday on Tuesday, a day after stocks lost over 1,800 points.
According to the PSX website, the KSE-100 index lost 1,381.76 points, or depreciated by 2.26%, to stand at 59,683.55 levels by 10:07am.
According to the Topline Securities, it was a bloodbath at the stock market on Monday after the benchmark index closed at 61,065.31.
“Continuing last week’s momentum, Pakistan equities commenced the business on a negative note, remained bearish throughout the session & ultimately KSE 100 index called the day at 61,065 levels (lost 1,878 points; down 2.98%),” it said in a market review.
It was of the view that such a spree could be attributed to further delay in the circular debt management plan for which the International Monetary Fund nod was awaited and might likely receive this week as informed by the Petroleum Division. “In addition, uncertainty over the political front with regards to the formation of new government grabbed the market sentiments.”