The Pakistan Stock Exchange (PSX) experienced a downturn on Tuesday, with the main KSE-100 index shedding over 720 points in intraday trading.
At noon, the KSE-100 index stood at 46,757 points, reflecting a decline of more than 700 points from its previous close at 47,478.61.
Economic specialists attribute the drop in the KSE to uncertainties surrounding politics and the economy. Expert Jafri mentioned, “The current void of significant financial events, especially with the upcoming IMF review being months away, adversely impacts the investment environment.”
In currency news, the rupee faced downward pressure against the US dollar on Tuesday’s open market, trading at rates surpassing Rs320 to the dollar. The Forex Association of Pakistan (FAP) reported the rupee’s value at Rs323 against the dollar in the open market, while it continued to be strained in the interbank market.
