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PSX nosedives as KSE-100 loses 2,300 points

The capital market witnessed across-the-board selling
Updated 19 Dec, 2023 04:28pm
A man uses a mobile phone as he takes a photo of the electronic board displaying share prices during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan on November 28, 2023. Reuters
A man uses a mobile phone as he takes a photo of the electronic board displaying share prices during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan on November 28, 2023. Reuters

The Pakistan Stock Exchange witnessed a bloodbath session on Tuesday as bears remained in charge throughout the trading session.

The KSE-100 Index shed 2,371.64 points or 3.64% to settle at 62,833.03 levels at the closing of the trading session.

The KSE-30 Index shed 708.52 points or 3.26% to reach 21,002.23 levels at the closing of the market.

Across the board selling was witnessed with index-heavy sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, pharmaceuticals and refinery trading deep in the red, Business Recorder reported.

It is pertinent to mention that the KSE-100 Index has seen a massive bullish run this year, gaining nearly 60%.

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