KARACHI: The Pakistan Stock Exchange (PSX) plunged on Thursday amid the ongoing geopolitical uncertainty which overshadows the political scenario in the country.
The market remained under pressure due to bearish signals stemming from political uncertainty prevailing in the country and speculations regarding rising tensions again between Russia and Ukraine also dampened investor sentiments.
The benchmark KSE-100 index plunged in early trading and reached its lowest points of 45,258.85 points after falling by 416.27 points. It managed to recover and headed to an upward trajectory before trading was suspended, ending on a negative note.
The bourse closed with a decline of 243.70 points (-0.53%) and closed at 45,441.10 points. The total volume of shares also declined to 63.814 million valued at Rs3.41 billion. Of the 94 traded companies in the KSE100 Index, 28 closed up 64 closed down, while two remained unchanged.
The lower bench KSE 30 index also fell by 89.26 points (-0.50%) and closed at 17,698.88 points. The total volume of shares was 27.937 million. The KMI-30 index closed at 73,508.65 points with a drop of 505.92 (-0.72%), while the All-Share Index declined by 165.50 (-0.53%) and closed at 31,143.02 points. The total volume of shares traded at the stock market were 153.581 million.
The highest number of shares traded belonged to WorldCall Telecom Ltd (WTL -2.97%) which traded 16.156 million scripts,This was followed by Hum Network Ltd (HUML -3.20%), Telecard Ltd (-4.05%) and K-Electric Ltd (KEL 3.34%). The number of scrips traded were 14.438 million, 10.467 million, and 8.856 million respectively. Total companies traded were 348 compared to 339 from the previous session. Of the scrips traded 99 closed up, 229 closed down while 20 remained unchanged.
