KARACHI: The Pakistan Stock Exchange’s (PSX) KSE-100 index on Thursday crossed the 49,000 mark for the first time in six years before closing in negative.
At close on Thursday, the KSE-100 Index ended at 48,611.18, a decrease of 153.37 points or 0.31%.
The benchmark KSE-100 Index had reached a six-year high the day before, settling at 48,764.55.
Cement, chemicals, commercial banks, pharmaceuticals, and OMCs are among the index-heavy industries that have seen ongoing buying, while automakers and oil and gas exploration firms continue to trade in a range. For the PSX, which has been under pressure for years due to several variables like political unpredictability, pandemic, and economic hardship in Pakistan, the index’s breach of the 49,000 threshold marked a momentous milestone. This was the index’s first time doing so in more than six years.
Volume on the all-share index decreased to 526 million from 556.1 million on Wednesday. The value of shares traded also decreased to Rs19.03 billion from Rs19.98 billion in the previous session.
Cnergyico PK remained the volume leader with 33.2 million shares, followed by K-Electric with 25.43 million shares and OGDC with 24.5 million shares.
Shares of 367 companies were traded on Thursday, of which 129 registered an increase, 216 recorded a fall, and 22 remained unchanged.
