KSE-100 index loses 500 points in intraday trade

Bearish momentum dominated the Pakistan Stock Exchange (PSX) on Monday as shares declined by 500 points in intraday trade.

Shortly after the opening bell, the index breached the 73,000 barrier to trade at a record high of 73,300 before plummeting.

However, the index declined by 506.70 points, or 0.7 per cent, to stand at 72,236.04 points at 12:27pm from the previous close of 72,742.74.

Mohammed Sohail, chief executive of Topline Securities, stated that after last week’s 5pc rally, investors chose to book profits today.