PSX loses 1,599 points on political uncertainty

Amid anticipation of a sixth straight cut in the interest rate next week, Pakistani sha­res continued a southward journey despite the res­u­m­ption of aggressive foreign buying on Wednes­day. As a result, the benchmark KSE 100 index tumbled below the 114,000 level due to political and taxation uncertainties. Topline Securities Ltd Chief Executive Moham­med Sohail said the uncertainty about the new US tariffs and their impact on different companies was taking its toll on the local market. “Moreover, selling by individuals and banks as per National Clearing Company of Pakistan Ltd data putting pressure on share prices,” he added. However, the global share markets maintained a bullish run for the second straight day despite a raft of trade measures announced by the new US president, particularly on Chinese and European imports.