KARACHI , June 19, 2023: The Pakistan Stock Exchange (PSX) on Monday witnessed massive selling spree as the key benchmark KSE-100 plummeted 700 points by afternoon.
At around 3:15pm, the benchmark index was hovering around the 40,623.41 mark, a decline of 677.88 points or 1.64 per cent.
The trading trading at the PSX remained range-bound till around 1:50pm. Later across-the-board selling was witnessed among index-heavy sectors including automobile, cement, chemicals, commercial banks, fertiliser, oil & gas exploration companies and OMCs trading in the negative.
According to market analysts, the country’s pending bailout programme with the International Monetary Fund (IMF) impacted the trading sentiments.