PSX nosedives 744 points


The Pakistan Stock Exchange (PSX) nosedived on Monday due to rollover week and massive hike of 150bps in policy rate by the State Bank of Pakistan, with the benchmark KSE-100 Index shedding 744.41 points (-1.63 percent) to close at 45,745 points.

The market opened on a positive note and gained over 110 points during the first 25 minutes of the session; however, later a massive profit taking activity gripped the market that continued for the rest of the session.

The KSE-100 Index moved in a range of 885.3 points, showing an intraday high of 46,601.90 points and a low of 45,716.60 points.—TLTP

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