PSX sheds 300 points on political uncertainty

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The Pakistan Stock Exchange (PSX) remained bearish on Wednesday amid political uncertainty, with the benchmark KSE-100 Index shedding 299.71 points (-0.65 percent) to close the session at 45,682.11 points.

The market opened on a negative note and remained negative throughout the session, touching an intraday low of 45,612.8.

Among other indices, the KSE All Share Index shed 80.76 points (-0.26 percent) to close at 30,794.25 points, while All Share Islamic Index shed 9.23 points (-0.04 percent) to close at 22,204.79 points.

The selling spree was largely due to creation of a forward bloc by treasury lawmakers belonging to Jahangir tareen Group, which led to loss of investors’ confidence in the market.

A total of 398 companies traded shares in the stock exchange, out of them shares of 148 closed up, shares of 234 closed down while shares of 16 companies remained unchanged.—TLTP

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