After 1,000 point drop, KSE-100 index ends day down 170 points

The bearish trend at Pakistan Stock Exchange continued as the KSE-100 index dropped by over 1,000 points during early day trading on Tuesday, but recovered during the day's session to close at 41,983.16 points. 

The market recovered a significant portion but still lost 0.4 per cent during the day's trading session. The benchmark index closed 170 points down. 

On Monday, the benchmark index stooped to a fresh low of the year, sliding another 925 points to close at 42,153.38.

Financial analyst Muhammad Sohail said that the political situation, constant decrease in foreign exchange reserves and current account deficit, which has reached one billion dollars, has made investors cautious.

Having receded over 20 per cent from its high of 52,876 points on May 24, it can be said that the KSE-100 index has officially entered the bear market territory.

Last week, the index reached 43,044.12 points, seeing a decline of 2.38 per cent.