Bearish momentum at PSX as shares decline by 1,300 points

Bears took control of the trade floor on Thursday at the Pakistan Stock Exchange (PSX) as shares declined by 1,300 points in intraday trade.

The benchmark KSE-100 index declined by 1,365.18, or 1.21 per cent, to stand at 111,049.62 points at 12:17pm from the last close of 112,414.80.

Yousuf M. Farooq, director research at Chase Securities, attributed the decline to deteriorating relations with Afghanistan, which he said were being discussed by investors today, following a reported...