PSX in meltdown, closes 550 points in red

Pakistan Stock Exchange (PSX) witnessed the KSE-100 benchmark remained under severe pressure as the index plummeted 800 points to a low of 41,109.95 on Thursday.

However, the index made some modest recoveries but still closed some 550 points in the red.

As the morning bell rang, the KSE-100 benchmark climbed to the level of 41,996.82 points before plunging some 886.87 points to a low of 41,109.95 points.

Compared to the opening level of 41,737.62 points, the index fell by around 513.89.

The index, however, made a modest midday recovery of some 409.85 points to rise to 41,519.80 points.

However, it then went into a slow decline until the end of the month until the end of the session when it closed at 41,179.76 points.

The top active stocks painting the benchmark KSE-100 red included the WTL, with a negative change of 2.22%.

Earlier on Wednesday, the KSE-100 index ended the trading session at 41,737.62 points from the previously closed value of 41,647.34 on Tuesday.