Contraction of the current account deficit did little to restore confidence among traders as the free fall of the rupee amidst political uncertainty in the country ensured that investors remained pessimistic at best, driving the index down by 450 points as it closed below the 41,000 point psychological barrier.
On Thursday, the Pakistan Stock Exchange (PSX), reacted negatively and the KSE-100 index lost more than 450 points.
A negative trend was observed during trading in PSX on Thursday as the stock market plunged, wiping out billions of rupees from the market.
The KSE-100 index suffered from the ongoing political instability and historic floods impacting the country, the index too fell prey to the negative sentiments.
Commercial Banks remained the top contributors in the fall of the index, causing a cumulative loss of 22.73 points.
Worldcall Telecom Limited (WTL), however, was the volume leader with 0.88%.
On September 6, The Pakistan Stock Exchange (PSX) released its first primary index, the PSX Dividend 20 Index.
The PSX Dividend 20 Index is designed to track the performance of the top 20 dividend paying companies on the PSX by ranking and weighting companies based on their dividend payouts over the past 12 months.