KARACHI: The benchmark KSE-100 Index dropped more than 450 points on Thursday as worries about the impending budget FY23-24 sent the Pakistan Stock Exchange (PSX) into the negative territory.
At close, the KSE-100 Index was at 41,686.46, a decline of 456.25 points or 1.08%.
Across-the-board selling pressure was witnessed with index-heavy sectors including, commercial banks, automobile assemblers, cement, chemicals, fertilisers, oil & gas exploration companies and OMCs trading in the red.
Sectors pulling the benchmark KSE-100 Index downwards included banking (128.74 points), technology and communication (84.30 points) and oil and gas exploration (83.13 points).
Volume on the all-share index decreased to 203.8 million from 332.5 million on Wednesday, while the value of shares traded declined to Rs5.8 billion from Rs7.1 billion recorded in the previous session.
Unity Foods Limited was the volume leader with 28.7 million shares followed by WorldCall Telecom with 17.6 million shares and TPL Properties with 15.8 million shares.
Shares of 325 companies were traded on Thursday, of which 98 registered an increase, 206 recorded a fall and 21 remained unchanged.
