PSX remains bearish as KSE-100 plunges over two-year lowest 1300 Points

KARACHI: The Pakistan stock exchange (PSX) on Monday continued on its downward spiral as the KSE-100 dipped over lowest 1,300 points till June 2016, during trading.

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KSE-100, the benchmark index of the Pakistan Stock Exchange decreased by 1,328.06 points or 3.39% to 37,898.29 points.

Panic selling was witnessed in retail names on reported margin selling while index heavy MSCI scripts also came under renewed selling pressure on reported self-off from foreign selling and potential redemption from Mutual Funds.

Financial experts said the volatility in the market was due to reports of the government approaching the International Monetary Fund (IMF) for a bailout package. They added that meeting IMF targets would lead to inflation in the country.

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