PSX dives due to profit-taking

Pakistan Stock Exchange (PSX) on Wednesday suffered a massive crash as it plummeted 3,790 points, marking one of the biggest single-day drops in history. The deep plunge sent shockwaves through the market, where extensive selling across key sectors triggered a sharp reversal of confidence. After briefly breaching the 116,000 mark earlier in the day, the KSE-100 index came under mounting pressure in the face of concerns over stock overvaluation, currency depreciation and economic uncertainty. Market experts believe that a significant drop in global equities and discussions between the government and the International Monetary Fund (IMF) about taxes and structural reforms dampened investor sentiment. The bourse saw a highly volatile session with the index fluctuating between the intra-day high of 116,236.70 and the intra-day low of 110,896.27.