PSX sheds 1,000 points ahead of policy rate announcement

Bearish momentum dominated the Pakistan Stock Exchange (PSX) on Monday as shares declined by 1,000 points ahead of the announcement of the monetary policy.

Shortly after the opening bell, the benchmark KSE-100 index breached the 73,000 barrier to trade at a record high of 73,300 before plummeting sharply.

The index declined by 728.40 points, or 1 per cent, to stand at 72,014.34 points at 1:56pm from the previous close of 72,742.74. The index closed at 71,695.03, down by 1047.71 points or 1.44pc...