Follow Us on Google News
KARACHI: The Pakistan Stock Exchange (PSX) ended the prolonged spell of range-bound trading however, the KSE-100 index receded 0.57% fall on Thursday as investors remained concerned over depreciation of rupee.
Investor scepticism over receipt of funding from friendly nations also took a toll on trading environment. At close, the KSE-100 Index finished with a drop of 239.73 points or 0.57% to close at 41,772.09.
Trading kicked off on an optimistic note and the market rose for most part of the day however the index reversed its trajectory in final hours and erased all gains to end with a loss.
Index-heavy automobile, cement banks, fertiliser and oil felt the heat of the sell-off and closed in red.
During the session, the index made an intraday high at 42,312 (+300 points; up 0.71%) where the profit taking kicked in which compelled market towards an intraday low at 41,725 (287 points; down 0.68%) before eventually settled at 41,772 (-240 points; down 0.57%) for the day.
Sectors driving the benchmark KSE-100 Index north included technology and communication sector (70.53 points), power generation and distribution sector (54.41 points) and oil and gas exploration sector (23.90 points).
Volume on the all-share index jumped to 260 million from 156.6 million on Wednesday. On the other hand, the value of shares traded soared to Rs10.1 billion from Rs6.55 billion recorded in the previous session.
TRG Pakistan was the volume leader with 27.4 million shares, followed by WorldCall Telecom with 21.6 million shares and TPL Properties with 21.5 million shares.
Shares of 341 companies were traded on Wednesday, of which 114 registered an increase, 206 recorded a fall, and 21 remained unchanged.