Pakistan Stock Exchange nose dives further
Shares
*KARACHI: The Pakistan Stock Exchange (PSX) witnessed massive selling pressure on Thursday as the benchmark KSE-100 index shed more than 500 points.*
The market began its slide soon as the benchmark KSE-100 index plunged 582 points.
The KSE-100 index is currently trading at 39,877 points.
On the other hand, the devaluation of the Pakistani rupee in the interbank continued on Monday after it fell to a record low in the interbank against the US dollar.
Pakistani rupee on Thursday hit another low after the US dollar strengthened against the local currency following a delay in the release of an Rs1.17 billion tranche from the International Monetary Fund (IMF) despite a staff-level agreement and political uncertainty in Punjab.
