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KARACHI: The Pakistan Stock Exchange (PSX) extended losses on Thursday and the KSE-100 index decreased 1.02% as weakening economic cues dented sentiment and investors chose to remain on the sidelines.
Imposition of secondary liabilities on HBL in a terror financing case added downside pressure to the market.
As a result, the KSE-100 Index finished the day with a decrease of 421.27 points or 1.02% to close at 41,013.86.
Trading began with a dip and the market sustained the fall throughout the session. The decline accelerated in the final hour and inflated the losses.
Index-heavy cement, chemical, oil and banking sectors saw massive sell-off. Despite the pessimism, automobile sector ended the day mixed.
Sectors causing the benchmark KSE-100 Index to plummet included banking (246.77 points), technology and communication (52.96 points) and oil and gas exploration (26.77 points).
Volume on the all-share index contracted to 127.5 million from 220.6 million on Wednesday. On the other hand, the value of shares traded dropped to Rs5.5 billion from Rs8.03 billion recorded in the previous session.
K-Electric was the volume leader with 11.2 million shares, followed by TPL Pakistan with 9.98 million shares and TRG Pakistan with 7.8 million shares.
Shares of 324 companies were traded on Wednesday, of which 103 registered an increase, 194 recorded a fall, and 27 remained unchanged.
