KARACHI: Pakistan Stock Exchange (PSX) on Thursday witnessed a bearish trend due to selling pressure and the benchmark KSE-100 index fell 0.45% or 195.06 points.
The market saw buying activity in early hours however, profit taking by investors in the second half dragged the market lower. As a result, the KSE-100 index closed the day with a loss of 195.06 points or 0.45% at 43,481-point mark.
Trading kicked off on a positive note and the market remained in the green territory until noon. At this point, selling pressure emerged and the market erased all gains. A fresh attempt was made to prop up the index near the end of the day however it proved futile and the market closed on a negative note.
Index heavy weights automobile, cement, banks, fertiliser and oil sectors took a hit and closed mostly in red.
Sectors dragging the benchmark KSE-100 index lower included technology and communication (60.01 points), fertiliser (33.75 points) and oil and gas exploration (27.36 points).
Volume on the all-share index inched up to 621.2 million from 607.99 million on Wednesday. On the other hand, the value of shares traded declined to Rs10.5 billion from Rs11.1 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 170.78 million shares, followed by Cnergyico PK with 62.88 million shares, and K-Electric with 58.05 million shares.
Shares of 312 companies were traded on Thursday, of which 232 registered an increase, 66 recorded a fall, and 14 remained unchanged.
