KARACHI: Bears regained control on the Pakistan Stock Exchange (PSX) for the second consecutive day on Wednesday as investors resorted to profit-taking and dumped stocks.
The benchmark KSE-100 lost 293.34 points (-0.66%) and closed at 44,373.23 points. It increased in early traded and reached its highest level of 44,795.20 points. The bourse gradually declined and ended on a negative note before trading was suspended. The total volume of shares was 123.016 million valued at Rs7.328bn.
The lower-bench KSE-30 index declined by 79.91 points (-0.46%) and closed at 17,463.24 points. The total volume of shares was 71.91 million. The KMI-30 index slumped by 438.91 points (-0.61%) and closed at 71,425.14 points, while All-Share Index also declined by 196.75 points (-0.64%) and closed at 30,460.69 points.
The most active stock was Unity Foods Ltd (0.25%) which saw 25.715 million shares traded at the stock market. This was followed by Telecard Ltd (TELE -6.77%), WorldCall Telecom Ltd (WTL -4.95%) Treet Corp Ltd (TREET -5.09%). The total volume of scripts was 20.151 million, 16.380 million, and 15.744 million respectively.
On the economic front, discussions with the International Monetary Fund (IMF) were ongoing for the resumption of the loan programme. The continuous pressure on the rupee against the US dollar caused concern amongst investors who sold equities.
