Abb Takk News

PSX Sheds By 421 Points

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%.