KARACHI: The continued contraction in big industry output shattered investor confidence, causing the Pakistan Stock Exchange (PSX) to snap its northward journey on Wednesday despite an overnight rating upgrade by Fitch.

Ahsan Mehanti of Arif Habib Corporation said the PSX closed sharply lower in the earning season amid a 3.5pc year-on-year contraction in Large-Scale Manufacturing in February and investor fears over the outcome of the US-China trade tariff.

Rupee instability and dismal cement sales for March also........

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