The Pakistan Stock Exchange (PSX) on Wednesday continued its losing streak with the benchmark KSE-100 Index dropping over 200 points.
At close, the benchmark index settled at 170,830.22, a decline of 243.51 points or 0.14%.
Selling was observed in key sectors such as commercial banks, fertilizer, oil and gas exploration companies, OMCs, and refineries.
On Tuesday, the Pakistan Stock Exchange (PSX) closed with most benchmark indices in the red as selling pressure continued across several sectors.
The benchmark KSE-100 Index settled at 171,073.73 points, recording a decline of 130.44 points, or 0.08%.
Meanwhile, the Pakistani rupee strengthened slightly against the US dollar in early interbank trading on Wednesday, appreciating by 0.07%.
At around 10am, the local currency was trading at 280.00 per dollar, up Re0.21 against the greenback. On Tuesday, the rupee had closed at 280.21.
On Wednesday, the government defended the privatization of Pakistan International Airlines (PIA), saying that the Rs135 billion bid submitted by the Arif Habib Corporation Limited–led consortium would deliver a total economic value of Rs55 billion to the national exchequer, despite criticism and competing narratives surrounding the deal.
