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Pakistan Stock Exchange sheds almost 800 points in intraday trading

KARACHI: The Pakistan Stock Exchange (PSX) showed downward trend on Wednesday, with its benchmark KSE-100 Index lost almost 800 points in intraday trading, marking a loss of 2%. According to details, the current downward trend is mainly due to the State Bank of Pakistan's (SBP) resolution to elevate key lending rate by 150 basis points (bps) to 10% as well, in addition to the fall in the value of the Pakistani rupee previous Friday. Also, the benchmark index has till now shed more than 3,000 points under the PTI…