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KARACHI: The Pakistan Stock Exchange (PSX) held a volatile session today (Wednesday) and ended the trading session on a negative note.
Gaining 433.71 points in early trade, the benchmark KSE-100 Index recorded its intraday high at 40,914.59. It, however, lost momentum thereon and fell to an intraday low at 40,223.45 losing 257.43 points. The index finally settled lower by 198.92 points at 40,281.96.
Among other indices, the KMI 30 index lost 319.81 points to end at 64,336.08, while the KSE All Share Index dropped 64.93 points, closing at 28,366.00.
The overall market volumes increased from 383.93 million shares in the previous session to 427.26 million shares (+11pc).
Average traded value, however, only inched up 1pc, from $86.3 million to $87.0 million. Unity Foods Ltd (UNITY -3.89pc), Fauji Foods Ltd (FFL +5.78pc) and Hascol Petroleum Ltd (HASCOL -0.20pc) led the volume chart, exchanging 47.73 million, 34.77 million and 30.33 million shares, respectively.
Sectors that dragged the benchmark index lower included banking (-84.43 points), cement (-42.76 points) and power generation & distribution (-41.09 points).
Among the companies, Hub Power Company Ltd (HUBC -36.43 points), Habib Bank Ltd (HBL -32.73 points) and United Bank Ltd (UBL -26.57 points) dented the index the most.
Shedding 2.08pc from its cumulative market capitalization, the power generation & distribution sector ended as the session’s top loser, with Hub Power Company Ltd (HUBC -2.04pc), K-Electric Ltd (KEL -3.36pc) and Altern Energy Limited (ALTN -5.63pc) ending in the negative.
