KARACHI: After witnessing a positive trend in the initial hours of trading, profit-taking erased gains at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index closing 248 points lower on Thursday.
The benchmark KSE-100 Index closed 248 points down due to profit-taking on Thursday after the Pakistan Stock Exchange (PSX) initially saw an upward trend during trading.
The index witnessed a mixed trend throughout the day oscillating between an intraday high of 45,971 and a low of 45,255.58.
The market experienced a bullish run during the first few hours of trading as traders celebrated numerous encouraging economic developments.
But during the last hours, profit-taking started to take effect, and the benchmark index ended the day at 45,266.06, down 247.99 points or 0.54%.
Sectors driving the benchmark index lower included banking (100.38 points), technology and communication (66.62 points) and fertilizer (32.33 points).
Volume on the all-share index increased to 489.2 million from 450.3 million on Wednesday, while the value of shares traded inched up to Rs14.5 billion from Rs13.1 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 55.5 million shares followed by TPL Properties with 42.2 million shares and K-Electric Limited with 30.4 million shares.
Shares of 362 companies were traded on Thursday, of which 142 registered an increase, 191 recorded a fall and 29 remained unchanged.
