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KARACHI: The Pakistan Stock Exchange (PSX) failed to retain the upward trajectory, with the benchmark KSE-100 Index shedding over 800 intraday to fall below 45,000-mark.
The benchmark KSE-100 endured a volatile session, registering its intraday high at 45,612.95 (+162.64 points) and low at 44,641.49 (-808.82 points). It settled lower by 726.22 points at 44,724.09.
Investors offloading investments and adjusting portfolios before the weekend were the major reason behind it. Among other indices, the KMI-30 Index plunged 1,310.40 points to end at 73,599.87, while the KSE All Share Index dropped 402.31 points, closing at 30,655.84.
The overall market volumes appreciated from 510.36 million shares in the previous session to 553.99 million shares (+8pc). Average traded value, however, declined 5pc, to $153.3 million as against $160.4 million.
Sectors that drove the benchmark index south included technology & communication (-118.59 points), banking (-115.12 points) and oil & gas exploration (-89.30 points).
Shedding 4.23 percent from its cumulative market capitalization, the refinery sector ended as the session’s worst performer, with Attock Refinery Ltd (ATRL -5.57pc), Pakistan Refinery Ltd (PRL -5.83pc) and National Refinery Ltd (NRL -7.50pc) posting significant losses.