PSX declines on global equities slump, ADB tax concerns

(Web Desk): The Pakistan Stock Exchange (PSX) closed in the red on Wednesday as investor sentiment weakened due to bearish trends in global equities, declining crude oil prices, and uncertainty over US trade tariff decisions. Additional concerns were raised after the Asian Development Bank (ADB) flagged issues related to tax compliance.

The benchmark KSE-100 Index dropped 826.21 points, or 0.62%, to settle at 132,576.98, compared to the previous close of 133,403.19. During the session, the index touched an intraday high of 133,566.37, up 0.12%, before plunging to a low of 132,326.17, reflecting a drop of 1,077.02 points, or 0.81%.

This downturn follows a marginal gain on Tuesday, when the index rose by 33.04 points to close at 133,403.19. Market analysts expect continued volatility amid global economic uncertainty and domestic fiscal concerns.