The Pakistan Stock Exchange (PSX) turned negative on Wednesday after an early morning buying spree had pushed the benchmark KSE-100 Index past the 175,000 mark for the first time in history.
At 11:37 a.m., the KSE-100 Index was trading at 174,202.43, down 270.36 points, or 0.15%. Selling pressure was seen across major sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, and power generation.
On Tuesday, the PSX had maintained its positive momentum, with the KSE-100 Index closing at a record high. The benchmark rose by 576.45 points to end the session at 174,473 points.
Meanwhile, the Pakistani rupee gained against the US dollar during early Wednesday trading in the interbank market. At 10:30 a.m., the local currency was quoted at 279.93, up Rs0.23 from Tuesday’s close of 280.16.
