PSX plunges over 3,000 points during intraday trade

The Pakistan Stock Exchange (PSX)’s benchmark index KSE-100 plunged by over 3,000 points during intraday trade on Monday.

The KSE-100 declined by 3,145.02 points or 1.81 per cent to stand at 170,793.99 at 1:39pm from the previous close of 173,939.01 points.

The plunge comes as uncertainty surrounds whether a second round of talks between the United States and Iran will take place in Islamabad.

Last week, the PSX witnessed a significant recovery amid easing geopolitical tensions in the Middle East and expectations of a softer monetary policy as declining oil prices temper inflationary pressures.

The KSE-100 index rose 4pc week-on-week to close at 173,939 points, gaining 6,748 points, according to Arif Habib Ltd (AHL).

Though the index surpassed its pre-war level of 168,062 on April 15 — highlighting a robust recovery in market sentiment — it remains around 15,227 points below its all-time high of 189,166.83 points recorded on January 23.