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PSX extends losses as KSE-100 drops 37 points

KARACHI: The Pakistan Stock Exchange (PSX) endured a topsy-turvy session on Thursday owing to political uncertainty and the KSE-100 Index closed in the red for the seventh session.

 The KSE-100 Index finished the day with a drop of 37.63 points or 0.09% to close at 40,927.95.

Trading began with a decline and the market kept declining for most part of the day. Driven by political clarity, the KSE-100 Index staged a U-shaped recovery in final hour as the market saw renewed buying however, the index still closed with a loss.

Due to the uncertainty, oil, chemical and fertiliser sectors ended in the red however, automobile, cement and banks closed on mixed note.

Sectors driving the benchmark KSE 100 index in downward direction included banking (19.34 points), automobile assembler (16.32 points) and investment banks and others (11.27 points).

Volume on the all-share index rose to 190.1 million from 170.4 million on Wednesday. On the other hand, the value of shares traded surged to Rs6.3 billion from Rs4.8 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 20 million shares, followed by TRG Pakistan with 18.6 million shares and TRG Pakistan with 17.6 million shares.

Shares of 328 companies were traded on Thursday, of which 106 registered an increase, 203 recorded a fall, and 19 remained unchanged.

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