The Pakistan Stock Exchange closed on a bearish note on Wednesday as the benchmark KSE-100 Index shed more than 100 points.

The 100-Index shed 170.13 points or 0.27% to settle at 63,567.33 levels at the closing of the trading session.

Similarly, the KSE-30 Index showed a meager loss of 1.64 points and reached 21,354.24 at the closing of the market.

On the macroeconomic front, Pakistan’s circular debt crossed new records to reach Rs5.73 trillion despite the government’s efforts to bring it under control, official documents have revealed.

The increase in the debt comes despite electricity and gas prices soaring to record highs and an increased emphasis on the issue by the International Monetary Fund.

Of the Rs5.73 trillion, the power sector is responsible for Rs2.7 trillion while gas companies are responsible for the other Rs3 billion.