PSX Slips Over 1,700 Points Amid Strong Selling Pressure

The Pakistan Stock Exchange (PSX) faced heavy selling pressure on Wednesday, with the benchmark KSE-100 Index falling by more than 1,700 points.

At the close, the index settled at 174,429.92, down 1,703.64 points, or 0.97%.

Selling was seen across several major sectors, including automobile assemblers, cement, fertilizer, oil marketing companies (OMCs), and power generation.

Major companies such as HUBCO, Pakistan Oilfields (POL), Pakistan Petroleum Limited (PPL), and National Bank of Pakistan (NBP) also closed in negative territory.

The decline came a day after the index gained 205.83 points on Tuesday.

Meanwhile, reports said Pakistan has requested a $10 billion exchange stabilisation facility from the United States. If approved, the facility could help boost foreign exchange reserves, support the rupee, and reduce reliance on multilateral lenders.