KARACHI: The Pakistan Stock Exchange (PSX) extended the decline for a sixth session on Wednesday and the KSE-100 Index fell below the 41,000-point barrier as continuous drop in the value of rupee against US dollar dampened trading environment.
As a result, the KSE-100 Index finished with a drop of 255.33 points or 0.62% to close at 40,965.58.
Early hours of the day saw lacklustre activity as the KSE-100 Index remained range-bound until midday. At this point, a selling spell dragged the KSE-100 lower and made it close with loss.
Automobile, chemical, fertiliser, oil and banking sectors closed with modest losses.
Sectors dragging the benchmark KSE 100 index downhill included oil and gas exploration (91.92 points), cement (36.18 points) and technology and communication (26.87 points).
Volume on the all-share index rose to 170.4 million from 156.6 million on Tuesday. On the other hand, the value of shares traded fell to Rs4.8 billion from Rs5.7 billion recorded in the previous session.
K-Electric was the volume leader with 40.3 million shares, followed by TPL Properties with 11.9 million shares and TRG Pakistan with 11.38 million shares
Shares of 319 companies were traded on Wednesday, of which 100 registered an increase, 195 recorded a fall, and 24 remained unchanged.
