MM News

Bears continued ruling Pakistan Stock Exchange (PSX) on Thursday and the KSE-100 Index fell 0.94% as political temperature remained high throughout the day.

Expectation of another operation against Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan drove decline. Investors remained mostly on sidelines to safeguard their holdings.

At close, the KSE-100 Index was down 391.58 points or 0.94% to settle at 41,442.08.

After a mixed open, the market declined steadily throughout the session.

All index-heavy sectors including automobile, cement, fertiliser, chemical, banking and oil ended the day with a loss.

Sectors painting the benchmark KSE-100 index in red included banking (128.13 points), technology and communication (92.86 points) and fertiliser (56.13 points).

Volume on the all-share index plunged to 101.3 million from 125.5 million on Wednesday, while the value of shares traded dropped to Rs3 billion from Rs3.5 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 9.9 million shares followed by Pak Refinery with 7.5 million shares and Cnergyico PK with 6.7 million shares.

Shares of 306 companies were traded on Thursday, of which 82 registered an increase, 205 recorded a fall and 19 remained unchanged.