KARACHI (National Times) – Bears prevailed at the Pakistan Stock Exchange (PSX) on Wednesday as the benchmark KSE-100 index lost 423 points as 1:15pm.

According to analysts, delays in the completion of the International Monetary Fund’s (IMF) ninth review, the foreign exchange crisis and exchange rate instability were factors behind the bearish sentiments.

The index was recorded at 39,866.99 points, or 1.11 per cent at 1:15pm. The index was closed at 39,802.91 points with 352.25 points decrease, or 0.88%.

Shares of 322 companies were traded during the session. At the close of trading, 98 scrips closed in the green, 212 in the red, and 12 remained unchanged.

Overall trading volumes rose to 153.74 million shares compared with Monday s tally of 146.88 million. The value of shares traded during the day was Rs5.5 billion.