The Pakistan Stock Exchange (PSX) on Thursday witnessed selling pressure as the benchmark KSE-100 Index lost over 2,500 points.
At close, the benchmark index settled at 180,512.64, a decline of 2,537.16 points or 1.39%.
Selling pressure was seen across key sectors on Thursday, including cement, commercial banks, and oil and gas exploration and refining companies. Heavyweight stocks such as MCB, NBP, OGDC, POL, PPL, and ARL closed in the red, weighing on overall market sentiment.
Earlier, on Wednesday, the Pakistan Stock Exchange (PSX) ended on a cautiously positive note, with selective buying in major sectors helping benchmark indices recover from intra-day losses.
The KSE-100 Index gained for the second consecutive session, rising 896.25 points, or 0.49%, to close at 183,049.81 points.
Meanwhile, Pakistan’s banking sector announced a voluntary 3% reduction in the markup rate on the Export Refinance Facility (ERF), bringing the end-user cost for exporters down to 4.50% with immediate effect.
According to the Pakistan Banks Association (PBA), this move was taken in the national interest to reduce financing costs for the export sector and boost foreign exchange inflows, supporting the country’s ongoing economic recovery efforts.
