KSE-100 dives 726 points

Staff Reporter

The stock market snapped a four-session winning streak on Thursday and dived over 700 points after a host of negative triggers, coupled with worries about monetary policy announcement, sparked across-the-board selling.

Investor sentiment took a hit after the daily tally of Covid-19 cases soared beyond expectations and sparked fears of yet another lockdown, which would be detrimental for the businesses and economy.

Earlier, trading began on a positive note and the KSE-100 index recorded gains until midday. The decline began in the second half of the session as concerns over the monetary policy announcement weighed on investor mind.

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