The KSE-100 Index was trading at 47429.82 levels after losing 956.43 points, or 1.98% at the closing of the session.

Across-the-board selling was witnessed with index-heavy sectors including automobile assemblers, cement, chemicals, commercial banks, oil and gas manufacturing companies and OMCs trading in the red, Business Recorder reported.

Experts said profit-taking is being witnessed by the market players after a massive rally that started with the staff-level agreement with the International Monetary Fund.

“The investors have adopted a cautious approach as they seek stability at the political front,” Sana Tawfik at Arif Habib Limited told Business Recorder.

The dollar was trading at Rs296 after witnessing an increase of Rs2 in the open market.

Similarly, the local unit also remained under pressure in the interbank foreign exchange market as it shed 48 paisas, or 0.17% against the dollar.

The greenback was trading at Rs287.91 at the closing of the interbank market, as against the closing of Rs287.43 the previous day.