PSX closes negative, sheds more than 663 pts

KARACHI: The 100-Index of Pakistan Stock Exchange (PSX) closed on the negative note on Tuesday, shedding more than 663 points, with negative change of 0.91 percent, before closing at 72,589.49 points against the previous close of 73,252.56 points, ARY News reported.

Despite the reduction in interest rates, the announcement of new taxes in the budget kept the stock market in the negative zone.

The market experienced a significant decline after an initial surge at the beginning of the trading session, leading to a downturn that persisted until the end of the day.

Trading activity saw 360 million shares exchanged, amounting to a total market value of Rs 11 billion. Throughout the day, shares of 107 companies saw an increase, while shares of 263 companies decreased. Additionally, shares of 61 companies remained stable.