Downward spiral continues at PSX, US dollar drops further

KARACHI: Pakistan Stock Exchange (PSX) on Thursday began the day with a negative trend as the KE-100 index fell by 675 points to stand at 64, 600.

The 100-index of PSX witnessed a bearish trend on Wednesday, losing 1,146.62 points, a negative change of 1.73 percent, closing at 65,280.16 points against 66,426.78 points the previous trading day.

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Analysts noted profit-taking to be the major reason behind the index trading in the red. The latest political development had played a conditional part in the bearish trend as well after the Supreme Court suspended its ruling on military trials of civilians.

On the other hand, the US dollar prices are slashed by 46 paise in interbank against Pakistan rupee and now the US dollar is trending at Rs 283.15.