Yet another bloodbath at the Pakistan Stock Exchange
*stock market continued to bleed on Wednesday, losing over 1000 points in the opening trading session of the day.*
The Karachi Stock Exchange 100 index (KSE-100) started the day at 43,506.36. After an initial rally to rise to 43,649.59 points in the opening hour, the market started to gradually slide to 43,151.72 points by 10:40 am.
But just as it looked like the index was starting to recover and would make some gains, it started to crash, falling to a low of 42,893.77 points, down by 610.59.
The exchange made some gains to recover from the crash to climb above the 43,000 point barrier. But this lasted only briefly as the index once again got locked in a descent, dipping below 42,495.18 points, down by 1,009.18.
Earlier on Monday, the first day of the current business week, there was a phenomenal decline with the index falling by 1,447.67 points to 43,393.14 points, causing investors to lose more than Rs228.57 billion.