Pakistan Stock Exchange (PSX) on Wednesday witnessed a severe bearish trend amid rising tension between Indian and Pakistan.
Soon after the market started the session, rigorous selling pressure emerged in within 10 minutes the stock market plunged by over 6500 points and crashed and as a result the trading was suspended for some time.
Later, the market recovered some losses, but in the last hours, the selling pressure again emerged, and at the end, the benchmark KSE-100 Index dropped by -3559.48 points with a negative change of -3.13%, closing at 110,009.02 against 113,568.50 in the previous session.
The high of the market during the session was 112,457.37, and the low was 107,007.68.
A total of 260,553,743 shares were traded during the day as compared to 165,216,410 shares the previous trading day, whereas the price of shares stood at Rs 23.642billion against Rs 15.180 billion on the last trading day.
As many as 447 companies transacted their shares in the stock market,49 of them recorded gains and 356 sustained losses, whereas the share price of 42 companies remained unchanged.
Across-the-board selling pressure was observed in key sectors including commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including OGDC, PPL, POL, HUBCO, SNGPL and SSGC traded in the red.
