Karachi: Stocks faced bearish sentiments at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 closed with a loss of nearly 160 points on Wednesday.

The index witnessed an upward momentum in the initial stage, but later slipped lower throughout the trading session. At close, the benchmark index settled at 72,601.82, a decrease of 159.38 points or 0.22%.

Selling pressure was witnessed in key sectors including automobile assemblers, cement, commercial banks, OMCs and refineries, while index-heavy stocks including, SNGPL, SSGC, SHEL and PSO settled in the red.

Kabul (Reuters): Three Taliban security personnel were killed when a motorcycle carrying an explosive device blew up near a military vehicle in northern Afghanistan being used in opium poppy eradication operations, an interior ministry spokesperson said on Wednesday.

Protests have roiled several districts in the northern province of Badakhshan where farmers object to Taliban security forces' attempts to wipe out opium cultivation - the backbone of many household incomes in impoverished Afghanistan.

"The explosion took place as the police convoy was passing for the purpose of opium poppy eradication," said interior ministry spokesperson Abdul Matin Qaniee, adding that five other people were injured.

It was not clear who was behind the attack in the provincial capital Faizabad. National and local Taliban administration spokespeople had said the previous day that calm had been restored to the protest-hit areas and teams sent from the national and provincial capital had held discussions with locals.

The protests, which began late last week, have resulted in the deaths of two people. The Taliban said they were considering providing financial compensation to the victims' families.

The Taliban have said they are seeking to restore order and security to the war-torn nation after taking over in 2021 as foreign forces withdrew.

Nevertheless, attacks have continued and the local branch of militant group Daesh, as well as resistance groups, have claimed attacks on Taliban security forces.

Karachi: The Pakistani rupee slightly appreciated against the US dollar in the interbank trading on Wednesday. The local currency jumped in value by 0.01% to settle at Rs278.10, the State Bank of Pakistan (SBP) said.

The minor increase in the rupee follows Tuesday's closure at 278.12, reflecting a gain of Re0.12. The local currency's strength could be seen in the wake of improved economic indicators.  

Interbank closing #ExchangeRatefor todayhttps://t.co/isqKMEXBuv#sbpexchangerate pic.twitter.com/2YDCVKzZUx

— SBP (@StateBank_Pak) May 8, 2024