The Pakistan Stock Exchange (PSX) witnessed another bearish session on Tuesday amid political and geopolitical uncertainties, with the benchmark KSE-100 Index losing 388.62 points (-0.90 percent) to close at 42,878.35 points.
The index has shed around 1,673 points during the last two sessions. The PSX opened on a negative note on Tuesday but it switched between the red and green territories for most part of the session.
However, the last hour trading witnessed huge selling pressure, which brought the benchmark index below the psychological level of 43,000. The index moved in the red territory as international crude oil prices remained elevated due to the Russia-Ukraine conflict, which dented the investors’ confidence.
Moreover, the Pakistani rupee plunged to an all-time lowest level of 178.61 against the US dollar during the day. Again, the gold prices surged to their highest level since August 2020 after breaching the $2,000 psychological mark.
Meanwhile, the opposition parties submitted the no-confidence motion against Prime Minister Imran Khan in the National Assembly. A total of 86 lawmakers from the opposition parties signed the no-confidence motion, which also dented the market sentiment. TLTP
