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Investor sentiment at the Pakistan Stock Exchange (PSX) continued to stay weak on Wednesday, as the benchmark KSE-100 Index closed substantially lower despite a partial recovery from an over 750-point fall during intra-day trading. The KSE-100 Index, under pressure for weeks, closed at its lowest level since July 2020.
The benchmark KSE-100 Index did post a minor recovery after buying interest was witnessed in the final minutes. However, it still closed with a fall of 523.48 points or 1.32% to settle at 39,279.43.
On July 30, 2020, the KSE-100 had closed at 39,258.44.
Trading began on a mixed note but selling pressure gripped the market in the initial hours of trading. The decline accelerated mid-day onward before a minor buying interest erased some of the intra-day losses.
Sectors driving the benchmark KSE-100 south included technology and communication (138.80 points), banking (114.40 points) and fertiliser (93.84 points).
Volume on the all-share index rose to 258.5 million from 153.7 million on Tuesday. The value of shares traded increased to Rs8.5 billion from Rs5.54 billion recorded in the previous session.
Bank Al-Falah was the volume leader with 57.9 million shares, followed by WorldCall Telecom with 22.1 million shares, and K-Electric with 17.8 million shares.
Shares of 340 companies were traded on Wednesday, of which 66 registered an increase, 257 recorded a fall, and 17 remained unchanged.