KARACHI: The Pakistan Stock Exchange (PSX) experienced a downward trend on Wednesday as its benchmark KSE-100 index lost 584.82 points. The announcement of the mini-budget to meet the demands of the International Monetary Fund for the release of the $1 billion loan is said to have disrupted the proceedings at the PSX.
JS Global said that the exclusion of general sales tax exemptions and reservations regarding the rollover settlement had dampened the session.
Sectors including oil and gas marketing, pharmaceutical, cement, fertiliser, and commercial banking held the most number of points. The PSX closed at 44,363.7 points, with a 33.1 per cent rise in the value of traded shares and a 17.3 per cent increase in market participation.