KARACHI: Bears returned to the Pakistan Stock Exchange (PSX) on Thursday, as the benchmark KSE-100 Index failed to hold on to early gains and ended in the negative.
The benchmark KSE-100 Index moved in a narrow range, registering its intraday high at 46,645.17 (+187.04 points) and low at 46,110.92 (-347.21 points). It settled lower by 292.08 points at 46,166.05.
Among other indices, the KMI-30 Index dropped 390.70 points to close at 73,617.91, while the KSE All Share Index lost 158.77 points, ending at 31,914.12. Sectors that dragged the benchmark lower included technology and communication (-89.69 points), oil and gas exploration (-66.97 points), and fertilizer (-57.01 points).
The overall market volumes inflated from 610.92 million shares in the previous session to 843.24 million shares (+38pc). Average traded value, however, declined 10pc, from 180.9 million to $163.6 million.
Shedding 2.64 percent from its cumulative market capitalization, the technology and communication sector ended as the session’s worst performer, with Systems Ltd (SYS -3.42pc), Avanceon Ltd (AVN -3.69pc) and Hum Network Ltd (HUMNL -2.89pc) closing in the negative.
Global equity markets also displayed a downward trend, whereas crude oil prices inched lower from the previous close; WTI crude price declining 0.09 percent to $52.80 while Brent crude price falling 0.07pc to $55.49 (As at 3:46pm PST).
