Staff Reporter
Karachi
Bears staged a return to the bourse on Thursday as Pakistan’s stock market (PSX) snapped a three-day winning streak. The KSE-100 index dive 633 points on fading optimism about the Covid-19 vaccine.
Earlier, trading began on a negative note and the KSE-100 index remained in the negative zone for the rest of the day. Encouraging remittances data, which showed that Pakistan attracted inflows of over $2 billion for the fifth consecutive month in October, failed to turn direction of the market.
At close, the benchmark KSE-100 index recorded a decrease of 632.76 points, or 1.54%, to settle at 40,564.56 points.
Cement-sector stocks carried forward the negative vibes from Wednesday, which came from lower dispatches in the first week of November compared to the previous month and year.
