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KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bloodbath today (Thursday) as the benchmark KSE-100 index nosedived by massive 1,200 points amid persistent selling pressure in the backdrop of the news of a second coronavirus lockdown.
The National Command and Operation Center (NCOC) had tightened precautionary measures against COVID-19 and issued a fresh warning of imposing lockdowns.
The market plunged as soon it opened on Thursday morning and saw continued selling pressure till 2:30pm when the KSE 1000 Index reached its lowest at 39,275. The market made a slight recovery and reached 39,970 at 3:04pm but the Index dipped again and ended the day at 39,888.
Although late session buying helped the benchmark index recoup few of the losses, the index finished deep in red. At close, the benchmark KSE-100 index recorded a decrease of 1,298.86 points, or 3.15 percent, to settle at 39,888 points.
Nearly 374.8 million shares had changed hands by the end of the session, with a total worth of nearly Rs16.5 billion. Shares of 372 companies were traded overall. At the end of the day, 50 stocks closed higher, 315 declined and 7 remained unchanged.
Sectors contributing to the performance today included Banks (-256pts), E&P (- 195pts), Fertilizer (-126pts), Cement (-102pts) and O&GMCs (-100pts).
Volumes were led by Unity Foods Ltd, with 60.5 million shares traded. Maple Leaf Cement Factory Ltd (MLCF), Pakistan International Bulk Terminal (PIBTL), Hascol and Fauji Cement Company Ltd (FCCL) closed out the top five symbols traded, with volumes of 39.1m, 38.6m, 34.4m and 26.4m, respectively.
