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KARACHI: The Pakistan Stock Exchange (PSX) declined for the second consecutive day on Wednesday as investors resorted to dumping stocks owing to the absence of positive triggers on the bourse.
The benchmark KSE 100 index declined by 151.66 points (0.31%) and closed at 48,480.90. The bourse jumped in early trading session and reach the highest point of 48,878.20 points before it slid due to lacklustre trading session and lack of triggers. The total volume of shares was 409.175 million valued at Rs13.463 billion.
The lower-bench KSE 30 index dropped by 77.25 points (-0.39%) and closed at 19,547.77. The total volume of shares was 63.120 million. The KMI 30 index also declined by 554.48 points (-0.68%) and closed at 79,355.76 points, while the All-Share Index dropped 110.79 points (-0.34%) and closed at 32,943.05 points.
The top three active stocks saw a decline in share prices. This includes K-Electric Ltd (KEL -4.69%), World Call Ltd (WTL -0.27%), and Byco Petroleum (BYCO -1.23%). The total volume of shares was 114.968 million, 87.346 million, and 63.181 million respectively.
K-Electric led the volumes for the second day after media suggested that the National Transmission and Despatch Company (NTDC) had recently stopped additional supply of electricity to the company due to non-payment.
The stock market started the week on a positive note as bullish activity dominated the opening day due to optimism before the budget announcement which gradually vanished over the next two days.
