Bears in control at PSX for third straight session as shares shed 400 points

Bears controlled the Pakistan Stock Exchange (PSX) for the third consecutive session this week as shares shed more than 400 points on Thursday following the the State Bank of Pakistan (SBP)’s decision to maintain its key policy rate.

The benchmark KSE-100 index traded in the red during the day, with the index closing at 70,657.64 — down by 444.90 points or 0.63 per cent from the previous close of 71,102.54.

Yousuf M Farooq, director of research at Chase Securities, said, “the market...