Shares at the Pakistan Stock Exchange (PSX) witnessed a rebound early in the day on Tuesday but failed to sustain it, dipping by over 500 points.

The benchmark KSE-100 index decreased by 533.73 points, or 0.47 per cent, to stand at 113,568.50 from the last close of 114,102.23 at the end of today’s session.

Earlier today, shares had increased by 990.87 points, or 0.87pc, to stand at 115,093.10 from the previous close at 10:03am. They then witnessed a slight decline, dropping to 114,723.98 at 12:30pm but still up by 621.75 points from yesterday’s close.

The sell-off comes despite the State Bank of Pakistan’s decision yesterday to slash the interest rate by 100 basis points to 11 per cent, which had defied analysts’ expectations that ongoing tensions with India might keep the central bank cautious and lead to no change in the monetary policy.

Awais Ashraf, research director at AKD Securities, said the market “lost its momentum amid concerns over border tensions with India, overshadowing the........

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