Bloodbath at PSX; index plummets over 1,700 points.

KARACHI -- Investors of the Pakistan Stock Exchange (PSX) witnessed bloodbath on Thursday, as the indices nosedived right from the word go, triggering a 45-minute 'market halt' (at 2:13p.m.) for the second time this week. A'market halt'is a standard protocol for risk management purposes which is triggered when the KSE-30 Index moves 4 per cent either way and remains there for five consecutive minutes. Shedding 1,777.48 points, the KSE-100 Index touched its intraday low at 35,895.77. Amid lack of triggers, it settled lower by 1,716.56 points or -4.56pc at 35,956.69. Among other indices, the KSE-30 Index lost 936.44 points to close at 15,992.37, while the KSE All Share Index lost 816.70 points, settling at 25,310.97. Of the total traded shares,

42 advanced and 240 declined. Top losers of the day included The Bank of Punjab (-6.76pc), Fauji Cement Company (- 6.93pc), Maple Leaf Cement Factory (-6.70pc), K-Electric Limited (- 4.28pc) and Pioneer Cement Limited declining (-6.50pc). While the market sentiments were on the low, it was interesting to note that the cement companies were performing strongly on the stock market off late. Analysts believe that this was due to the cyclical benefits that the cement sector will witness due to the global...