KARACHI: In accordance with the prevailing pattern since the beginning of the week, the Pakistan Stock Exchange (PSX) saw another drop on Wednesday, with its benchmark KSE-100 index shedding about 900 points in intraday trade – a loss of more than 2%.
Trading began at 43,504.36 points before plummeting to 42,463.25 points at roughly 1:02pm.
The current bearish trend was followed by impending concern over the International Monetary Fund (IMF) programme, as well as a decline in the value of the rupee, which recently crossed the 190-mark for the first time in its history (Wednesday).
Selling pressure was felt across the board as the government’s indecision on economic policy wreaked havoc on the stock exchange.