KARACHI: The bulls took a break at the Pakistan Stock Exchange (PSX) on Thursday as profit-booking pulled the benchmark KSE-100 index lower by 421 points.
Index-heavy bank sector faced massive selling, which fuelled the downtrend.
A lack of positive triggers that could give direction to the market dented investor interest, leading to the divestment of stockholdings, which erased early gains.
In the morning, trading began on a negative note and the market fell below the 40,000-point mark.
The downtrend proved consistent and profit-booking by market participants erased the gains. The market’s decline deepened towards the end of the session.
The benchmark KSE-100 index closed at 41,013.86 points with a decrease of 421.27 points or 1.02%.