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KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Thursday, as the benchmark KSE-100 index fell 196 points and closed below the 45,000-point mark.
The session kicked off with a spike, however, the market failed to sustain the gains due to lack of investor interest and the index marched downwards. A few attempts made to reverse direction of the market proved futile and the day ended on a negative note.
At close, the benchmark KSE-100 index recorded a decrease of 196.01 points, or 0.44%, to settle at 44,863.11 points. Overall trading volumes dropped to 280.7 million shares compared with Wednesday’s tally of 305.8 million.
The value of shares traded during the day was Rs13.6 billion. Shares of 375 companies were traded. At the end of the day, 137 stocks closed higher, 230 declined and eight remained unchanged.
Hascol Petroleum was the volume leader with 43.9 million shares, gaining Rs0.77 to close at Rs9.58. It was followed by Ghani Global Holdings with 32.6 million shares, losing Rs3.1 to close at Rs40.38 and Telecard Limited with 19.6 million shares, losing Rs0.56 to close at Rs15.78.