Selling pressure at the Pakistan Stock Exchange (PSX) erased Tuesday’s gains with the benchmark KSE-100 losing over 1,300 points on Wednesday.
At close, the benchmark index settled at 182,569.81, down 1381.69 points or 0.75%.
Selling pressure was observed across key sectors, including automobile assemblers, cement, commercial banks, and fertilizer.
However, Pakistan’s equity market staged a strong recovery on Tuesday, recouping a large portion of Monday’s losses as renewed buying interest boosted key benchmarks.
The KSE-100 Index closed at 183,951.51 points, gaining 1,567.36 points, or 0.86%.
Meanwhile, the SECP proposed 183 major amendments to the Companies Act, 2017 to ease regulatory requirements and enhance the ease of doing business in Pakistan.
In the currency market, the Pakistani rupee also strengthened against the US dollar, rising 0.09% in early Wednesday trading in the interbank market.
By 10 a.m., the local currency was trading at 279.75, up Rs0.25 from Tuesday’s close of 280.00.
