Bears maintain control at PSX as KSE-100 index sheds another 4,700 points

Bears continued their stampede on the trade floor as shares at the Pakistan Stock Exchange (PSX) slid more than 4,700 points in intraday trade on Thursday.

The benchmark KSE-100 index declined by 4355.76 points, or 3.92 per cent, to stand at 106,714.53 from the previous close of 111,070.29 at 3:02pm.

Finally, the index closed at 106,274.97, down by 4795.32 or 4.32pc from the previous close.

Awais Ashraf, director research at AKD Securities, attributed the momentum to “the...