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