KARACHI: The benchmark index for the Pakistan Stock Exchange (PSX) dropped by more than 150 points on Monday as a result of the most recent round of rupee devaluation, sending the market into the negative territory once more.
In the interbank market, the rupee lost Rs. 1 (or 0.45%), dropping to 237.91 as it nears its record low of 239.94 set on July 28.Investors continued to sell stocks as a result of the ongoing devaluation as they became alarmed by the most recent occurrences. As a result, following a brief higher opening, the KSE-100 index fell to an intra-day low of 41,504.64 points.
According to stockbrokers, the benchmark KSE-100 index dropped more than 150 points as a direct result of the rupee’s decline. The earnings of companies listed on the PSX are being negatively impacted by the depreciation of the rupee.
