Pakistan Stock Exchange continues downward trajectory

Pakistan Stock Exchange continues downward trajectory

*KARACHI: The Pakistan Stock Exchange (PSX) continued a declining trend on Friday as the KSE-100 index shed 165 points today amid political uncertainty as the biggest province of the country, Punjab, is set to elect its chief minister today. *

According to details, the KSE-100 index shed 165 points and traded below the 39,000 mark at 39,666 points.

It is pertinent to mention here that the Pakistan Stock Exchange (PSX) witnessed massive selling pressure on Thursday link 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.

Besides the PSX, the rupee’s downward slide against US dollar also continued on the fourth consecutive day on Friday link political uncertainty and delay in the release of the IMF loan tranche for US$1.17 billion have affected the country’s foreign reserves.

According to forex dealers, the greenback saw a hike in value against rupee by Rs0.19 and traded at Rs227. In the open market link, the US dollar traded between Rs228 and Rs229.