KARACHI: Profit-taking caused the benchmark KSE-100 index to decline by 421 points on Thursday, giving the bulls at the Pakistan Stock Exchange (PSX) a break.Massive selling pressure hit the index-heavy bank sector, which fueled the downward trend.
Investor interest was reduced by a lack of supportive factors that may guide the market, which resulted in the sale of stock holdings and the erasure of early gains.The market dropped below 40,000 points when trading got underway in the morning.
The decline was evidently continuous, and market players’ profit-booking eliminated the profits. In the last minutes of the session, the market’s drop accelerated.The benchmark KSE-100 index dropped 421.27 points or 1.02% to settle at 41,013.86 points.
