The Pakistan Stock Exchange (PSX) saw a sharp decline on Tuesday, with the benchmark index dropping more than 2,300 points. According to the PSX website, the market stayed flat for 10 minutes after opening, before beginning a gradual decline at 10:49am. The KSE-100 index fell by 1186.19 points, closing at 62,833.03, down 3.64% from the previous day. Negative contributions came from stocks in exploration and production, fertiliser, and banking sectors. Analysts attributed the selling pressure to pre-election anxiety and margin calls on leveraged buying. There was also a brief recovery in the index due to news of fresh funds for government-owned power plants, but this was short-lived. The bearish trend was also attributed to heightened geopolitical tensions causing global oil prices to surge, posing a challenge for countries like Pakistan that heavily rely on oil imports. It was anticipated that the market would undergo a corrective phase until the end of December, with a crucial support level at 64,500, and investors were advised to exercise caution at these levels.