The benchmark KSE-100 dropped almost 4% during trading on Tuesday as a correction that most analysts say was predicted continued to have a negative impact on share prices at the Pakistan Stock Exchange (PSX).
At close, the benchmark index settled at 62,833.03 level a decrease of 2,371.64 points or 3.64%. Earlier, the index hit an intra-day low of 62,360.78.
Index-heavy industries such automakers, cement, chemicals, commercial banks, oil and gas exploration firms, oil and gas manufacturing companies, OMCs, medicines, and refineries were trading much lower due to widespread selling.
Sectors painting the benchmark index in red included banking (-443.16 points), oil and gas exploration (-301.54 points) and fertilizer (-228.79 points).
Volume on the all-share index decreased to 1.51 billion from 1.89 billion a session before.
However, the value of shares inched up to Rs29.1 billion from Rs24.6 billion in the previous session.
K-Electric Limited was the volume leader with 341.06 million shares, WorldCall Telecom followed with 176.03 million, and Cnergyico PK at 131.72 million shares.
Shares of 386 companies were traded on Tuesday, of which 31 registered an increase, 351 recorded a fall, while 4 remained unchanged.
