ISLAMABAD: The Pakistan Stock Exchange (PSX) experienced a sharp decline on Thursday, with the benchmark KSE-100 Index losing more than 900 points during the intraday update.
By 11:15am, the index stood at approximately 110,988.03, reflecting a decrease of 947.35 points or 0.85%.
Notable selling pressure was noted in key sectors, including commercial banks, fertilizers, oil and gas exploration companies, and oil marketing companies (OMCs).
Major stocks such as PSO, SSGC, SNGPL, MARI, POL, PPL, MEBL, and UBL were all trading in the negative.
“We think that investors are not finding current levels as attractive; top dividend yield (DY) stocks are offering barely 2 percentage point (ppt) higher yield over comparable government’s securities,” said Intermarket Securities.
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“The upcoming International Monetary Fund (IMF) talks is a key milestone for future market direction,” it added.
The Pakistan Stock Exchange (PSX) experienced a wave of selling on Monday, resulting in a drop of over 1,100 points in the benchmark KSE-100 Index during the early trading hours on Monday.
On January 30, shares at the PSX benchmark index gained around 800 points in the intraday.
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