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The Pakistan Stock Exchange (PSX) benchmark KSE-100 index tumbled by over 1,800 points during intraday trade, breaking its four-day bullish spree.
Falling oil prices following the signing of the ‘Islamabad MoU’ between the United States and Iran had fueled optimism, triggering buying interest across multiple sectors. As a result, the KSE-100 index had maintained its recovery for the fourth straight session on Thursday.
On Friday, initial positive momentum pushed KSE-100 to an intraday high of 182,185.87 points at 10:14am. However, the market declined almost steadily after 10:30am until it regained some points later.
The KSE-100 index declined by 2,858.75 points (1.58 per cent) to stand at 178,539.46 at 12:03pm from the previous close of 181,398.21.
