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KSE 100 index declines 510 points to lose 47,000 level

KARACHI: The Pakistan Stock Exchange (PSX) witnessed another lacklustre trading session and plunged on Thursday as it lost the 47,000 points level.

The KSE-100 index witnessed a downward trajectory through the day and eventually shed 510.40 points (-1.08%). The bourse reached its highest level of 47,874.64 points but then observed on decline to end on a negative note. The total volume of shares was 168.36 million valued at Rs7.796bn.

The lower-bench KSE-30 index also decreased by 223.20 points (-1.17%) and closed at 18.806.07 points. The total volume of shares was 41.481 million. The KMI 30 index plunged by 766.40 points (0.99%) and closed at 76,897.59 points, while the All-Share Index declined by 260.71 points (-0.80%) and closed at 32,200.06 points.

The most active stock was Ghani Global Holdings (GGL 2.12%) which shows 57.965 shares traded at the stock market. This was followed by World Call Ltd (WTL -1.69%), Azgard Nine Ltd (ANL 0.12%) and Service Fab (SERFR -14.60%). The total volume of scripts was 53.341 million, 42.158 million, and 34.891 million respectively.

This is the second consecutive day to have witnessed volatility at the stock market. Bears had the upper hand on Thursday as investors resorted to profit-booking and dumped stocks, leading to the decline on the stock market.

On the economic front, the Pakistani currency hit a new one-year low at Rs167.20 against the US dollar in the inter-bank market on Thursday, as demand for the foreign currency remained high compared to supply in the country.