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Index plunges 507 points on profit-taking
KARACHI: Stocks went into free fall on Thursday as the KSE-100 index plunged by 507 points (1.1 per cent) to finish at 47,951 points.
The index conceded half of the 1,100 points it had gathered in the last four sessions.
Traders attributed the heavy fall to a number of factors including fear-induced profit-selling.
Analysts said the selling pressure may have been amplified due to the Sindh chief minister’s comments regarding nationwide gas shutdown, the resurgence of Indo-Pak tensions, and the looming fear related to impending verdict on the Panamagate case.