The Pakistan Stock Exchange (PSX) extended its losing streak on Wednesday, plunging by over 1,700 points as selling pressure persisted across key sectors.
At the close, the benchmark KSE-100 Index settled at 159,578.19 points, down 1,703.57 points or 1.06%.
Heavy selling was recorded in major sectors, including commercial banks, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries. Leading index constituents such as HUBCO, MARI, OGDC, WAFI, HBL, MCB, MEBL, and NBP closed in negative territory.
The decline followed Tuesday’s session, during which the market also came under pressure as investors engaged in profit-taking after two days of gains.
The sell-off was largely driven by weakness in blue-chip stocks, with traders displaying caution amid mixed corporate earnings and post-rally consolidation. On that day, the KSE-100 Index had dropped 1,521.39 points, or 0.93%, to close at 161,281.77 points.
Meanwhile, the Pakistani rupee showed slight improvement against the US dollar in the interbank market on Wednesday. The local currency closed at Rs280.86 per dollar, gaining Re0.01 compared to Tuesday’s closing rate of Rs280.87.
