Tuesday April 19, 2022

PSX Sheds Over 200 Points

KARACHI: The Pakistan Stock Exchange (PSX) extended loses on Tuesday as the latest round of rupee depreciation pushed the benchmark index down by over 200 points.

The rupee once again surpassed 184-mark, closing at Rs184.44 to the US dollar in the inter-bank market earlier in the day, weakening by nearly Rs2, from Monday’s close of Rs182.54.

The fresh depreciation prompted renewed stock selling as investors reacted with panic to the latest development. As a result, the KSE-100 index, after a brief upward opening, dropped to an intra-day low of 46,287.9 points.

Financial results announced during the day failed to entice the market participants and the index closed in the red zone.

At the close, the KSE-100 index lost 206.23 points, or 0.44%, to settle at 46,333.36 points.

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