PSX loses 1,510 points as panic-selling continues

Bears further tightened their grip on the Pakistan Stock Exchange (PSX) as equity prices fell like ninepins for the fourth successive session on Thursday, dragging the KSE-100 index below the 113,000 level as nervous investors continued offloading their holdings amid growing political and economic tensions. Ahsan Mehanti of Arif Habib Corporation said selling pressure was witnessed across the board amid concerns over the outcome of government-PTI talks and the bar on non-filer PSX investors under new tax amendments. He attributed the downturn to political uncertainty, concerns over cautious monetary policy easing and uncertainty over the outcome of slippages on IMF tax collection targets. Topline Securities Ltd said the KSE-100 index closed at 112,638, down by 1,510 points or 1.32 per cent day-on-day. The market experienced notable volatility, reaching a peak of 114,330 and a low of 112,595, reflecting uncertainty in the cement and gas sectors affecting sentiment.