Staff Reporter
Karachi
Pressure to sell persisted at the Pakistan Stock Exchange (PSX) on Tuesday, pulling the KSE-100 index down by 427 points. The emergence of a new Covid-19 strain weighed on investors’ sentiment.
The Coronavirus strain, discovered in the UK, sent financial and equity markets around the world plunging.
Earlier, trading began with minor ups and downs, however, the index climbed during early hours. After midday, the market reversed its trend and began marching downwards. The decline deepened further later in the day, which inflated the losses.
At close, the benchmark KSE-100 index recorded a decrease of 426.82 points, or 0.98%, to settle at 42,906.94 points.
