In one of the massive bloodbaths at the Pakistan Stock Exchange (PSX) the market hemorrhaged over 13,000 points on Tuesday.

The benchmark KSE-100 fell nearly to the 38,300 mark in intra-day trading.

A stalemate over talks with the International Monetary Fund (IMF) on the next loan tranche was blamed for the market bloodbath, according to Business Recorder.

The delay in the resumption of talks has hit investors’ confience.

After the close of trading, the KSE-100 Index was down 1,378.54 points or 3.47%, hovering around the 38,342.21 mark. KSE-100 closed at a 30-month low.

Investors pulled back their money from automobile, cement, banking, chemical, oil and other sectors.