Abb Takk News

PSX Plunges Over 1000 Points Amid Regional Tension

KARACHI: The Pakistan Stock Exchange (PSX) tumbled over 1,000 points on Monday as shock waves reverberating through the global equity markets impacted the local bourse as well.

In reaction, the benchmark KSE-100 index of the PSX plunged from the moment trading began and kept trading in the red throughout the day. Rising uncertainty sparked panic selling by investors, which pushed the index lower.

At close, the benchmark KSE 100-share Index recorded a decrease of 1,027.06 points, or 2.43%, to settle at 41,296.24.

Overall, trading volumes fell to 266.6 million shares compared with Friday’s tally of 322.9 million. The value of shares traded during the day was Rs10.5 billion.

Shares of 359 companies were traded. At the end of the day, 28 stocks closed higher, 325 declined and six remained unchanged.