PSX extends losses by 290 more points

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Pakistan Stock Exchange (PSX) remained bearish for the fourth day in a row on Thursday, with the benchmark KSE-100 Index shedding 290.54 points (-0.63 percent) to close at 45,652.62 points.

The market opened on a slight positive note. The indices switched between the red and green territories for the first 45 minutes of the session and later, the bears took charge of the market till the end of the session. The market witnessed selling pressure amid a lack of positive triggers and rising commodity prices in the international market.

Moreover, sharp depreciation of rupee against the US dollar in the interbank market for the fourth day in a row also dented investors’ sentiments. The rupee has shed Rs5.42 against the US dollar and slipped to 186.97 from Rs181.55 during the last four days. –TLTP

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