*KARACHI: The Pakistan Stock Exchange (PSX) continued a declining trend onFriday as the KSE-100 index shed 165 points today amid politicaluncertainty as the biggest province of the country, Punjab, is set to electits chief minister today. *
According to details, the KSE-100 index shed 165 points and traded belowthe 39,000 mark at 39,666 points.
It is pertinent to mention here that the Pakistan Stock Exchange (PSX)witnessed massive selling pressure on Thursdaylink as thebenchmark KSE-100 index shed more than 500 points.
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.
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Besides the PSX, the rupee’s downward slide against US dollar alsocontinued on the fourth consecutive day on Fridaylinkpolitical uncertainty and delay in the release of the IMF loan tranche forUS$1.17 billion have affected the country’s foreign reserves.
According to forex dealers, the greenback saw a hike in value against rupeeby Rs0.19 and traded at Rs227. In the open marketlink, the US dollar traded between Rs228and Rs229.
