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Bearish Continuously Reigning on PSX

KARACHI: The Pakistan stock market downed on the straight second day by 180 points to three-and-half-year low in intra-day trading, falling below 31,000 points due to an escalation in Pakistan-India tension along the Line of Control, however, it closed at 31000.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index was down 579 points to stand around 31,087 points in midday.

The benchmark index commenced the week on a negative note, hitting the day’s low around the halfway mark of the trading session at 30,979 before closing at 31000 points.

The commencement of the market at 31,666 points remained the day’s high.

The dollar loses 28 paisa against rupee and slides down to 158.65 in interbank while its price in the open market remains the same.

The gold reached Rs 84500 per tola after the gain of Rs 500 as the gold rate in international markets also witnessed a gain of $ 4 and closed at $ 1463 per ounce.