PSX falls after surprise no change in rate

Macroeconomic uncertainty continued to weigh on the Pakistan Stock Exchange (PSX) on Tuesday as the market remained volatile after the State Bank of Pakistan (SBP), contrary to expectations, left its policy rate unchanged at 10.5%. In the morning, trading commenced on a positive note and following a brief dip the benchmark index touched the intra-day peak at 189,521 in the first hour of trading. However, the optimism proved short-lived as selling pressure pulled the market down, wiping out all the early gains. The KSE-100 index slid to the intra-day low of 187,538 towards the close of trading. It recouped some of the losses and eventually settled at 188,203, down 384.80 points, or 0.20%. Arif Habib Limited Deputy Head of Trading Ali Najib noted that the PSX experienced a largely uneventful session as the KSE-100 traded sideways and closed at 188,203, down 385 points.