PSX shares fall by 523 points on IMF delay

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Shares at the Pakistan Stock Exchange (PSX) fell sharply for a second day on Wednesday, with analysts citing delays in the completion of the International Monetary Fund’s (IMF) ninth review, the foreign exchange crisis and exchange rate instability. The benchmark KSE-100 index lost 523.48 points, or 1.32 per cent, to close at 39,279.43 points. It reached an intraday low of 775.4 points, or 1.95pc, at 2:55pm.