KARACHI: The Pakistan Stock Exchange (PSX) witnessed another bloodbath on Thursday, as with the benchmark index losing over 1,000 points intraday amid political uncertainty in the country.
The market saw another thrashing of 1003 points after posting an increase of 199 points during the session. At the end of the day, KSE-100 closed at 42,779 points, down by -911 or 2.09 percent, the last level seen on December 20, 2020.
Overall, the Pakistan market has lost 3,058 points (or 6.7 percent) in the last four trading sessions. This is the highest 4-day losing streak after March 18, 2020, when the market fell sharply in fear of the COVID-19 outbreak.
Major negative contributions today came from TRG, OGDC, LUCK, HBL, and ENGRO, who cumulatively dragged the index lower by 287 points.
In the All shares index, 406 million shares were traded today, while 196.92 million shares were traded in KSE-100. Shares of 357 companies were traded overall. At the end of the day, 47 stocks closed higher, 357 declined, and 11 remained unchanged.
Investors sold aggressively in the Stock Market mainly on the prevailing uncertainty over the Senate Chairman elections along with the waiver of tax exemptions by the Government of Pakistan.
