The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 began another week on a low note, crashing more than 5,000 points during intraday trade on Monday.
The development led to the market being suspended as per the protocol.
The KSE-100 index declined 5,478.63 points, or 3.16 per cent, to stand at 167,691.08 points from the previous close of 173,169.71 points at 1:30pm.
This marks at least the third major meltdown at the PSX in the past two weeks, with KSE-100 losing 5,149.80 points on February 16 and 6,683 points — the steepest single-day decline in history — on February 19.
Last week, the PSX endured a difficult week as geopolitical strains between the United States and Iran, compounded by domestic political noise, triggered a significant sell-off, pushing the KSE-100 index below the 174,000-point level.
More to follow
