KSE-100 sheds another 550 points to close near three-year low

KARACHI: The benchmark index of the Pakistan Stock Exchange closed deep in the red on Wednesday, ending the day 550.65 points or 1.51% lower at 36,579.32 points—close to its three-year low.

This was the lowest that the benchmark KSE-100 index has closed in almost three years since May 18, 2016, when it ended the session at 36,318.21 points.

The bearish trend dominated the market with a volume of 73.3 million shares and a value of 3.6 billion traded throughout the session.

The benchmark index hit a daily low at 36,464.85 points before inching slightly upwards to 36,579.32 points near the close of the day.

The market has shed more than 2,000 points in trading since the start of this month. According to estimates, this has resulted in a loss of roughly Rs600 billion for investors.