Follow Us on Google News
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish trend today (Thursday), with the benchmark index plunging nearly 900 points as the market reacted to repercussions of political uncertainty.
The benchmark KSE-100 Index started the day on a negative note, plunging 1,073.15 points to record its intraday low at 45,087.63. It settled lower by 882.25 points or 1.91 percent at 45,278.53.
Among other indices, the KMI-30 Index dropped 1,685.61 points to close at 75,339.18, while the KSE All Share Index lost 531.19 points, ending day at 31,133.89.
The overall market volumes improved from 403.69 million shares in the previous session to 441.42 million shares. K-Electric Ltd (KEL -4.12pc), Ghani Global Holdings (GGL +5.18pc) and TRG Pakistan ltd (TRG -3.32pc) led the volume chart.
Sectors that drove the benchmark index south included cement (-166.84 points), banking (-141.58 points) and oil & gas exploration (-70.98 points).
Shedding 3.82 percent from its cumulative market capitalization, the cement sector ended as the session’s worst performer, with Bestway Cement Ltd (BWCL -7.48pc), DG Khan Cement Company Ltd (DGKC -3.68pc) and Lucky Cement Ltd (LUCK -2.52pc) ending in the negative.