Shares at the Pakistan Stock Exchange were in free fall with the benchmark KSE-100 index shedding more than 1,400 points on Monday, imitating the global markets which plunged in unison after the United States said that it was in “active discussion” with its European allies about banning imports of Russian oil and natural gas as a collective economic penalty on Kremlin over its invasion of Ukraine.
As the intraday trading at PSX kicked off on Monday, the bourse was under severe pressure with KSE-100 losing 5800 points, plunging to 43,343 points within the initial few hours.
The sell-off began with the opening bell as the benchmark lost over 1,400 points in the first intraday trading.
Analysts say that a host of domestic and global factors including the volatile global situation caused by the Russia-Ukraine conflict were behind the sink.
