KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed a sharp reversal on Wednesday as the market moved into negative territory after opening on a positive note.
At the beginning of trading on the third day of the business week, the KSE-100 Index gained more than 600 points, rising to 176,935 points.
However, the positive momentum did not last long, and the index later declined sharply during trading. The benchmark index fell by more than 1,800 points, reaching 175,631 points.
The market’s performance followed a weak close in the previous trading session, when the KSE-100 Index ended 638 points lower at 177,623 points.
Meanwhile, the interbank currency market saw a slight decline in the value of the U.S. dollar against the Pakistani rupee. The dollar traded at Rs277.84, down by one paisa from the previous level of Rs277.85.