Stocks plunge nearly 4,800 points

Pakistan Stock Exchange (PSX) endured yet another day of massive selling on Thursday as it nosedived nearly 4,800 points – the largest single-day drop in the bourse's history. A highly volatile trading session left investors puzzled, which came after a recent prolonged record-breaking spree. The biggest single-day slump followed Wednesday's record fall of 3,790 points, when investors resorted to heavy profit-taking at significantly higher stock valuations. The intense selling pressure was fuelled by several domestic factors and was particularly pronounced in sectors like chemical, commercial banks, power generation and refineries. The KSE-100 index moved between the intra-day low of 105,937.37 points and the high of 111,745.03 points.