The Pakistan Stock Exchange closed Wednesday's trading session back in the red, with the benchmark KSE-100 index losing nearly 33 points, or 0.07 per cent, by market close to reach 49,331.54.
178 million shares of KSE-100 companies changed hands during the day, with a total worth of nearly Rs11.8 billion. Nearly 380m shares in total were traded on the PSX during the day, with a total worth of Rs16.5bn.
The index had closed flattish on Tuesday, after opening in the red and diving 273 points to an intraday low over investors' concerns over the countrywide security situation. Adding to the pressure, investors continued to settle their futures contracts before Friday.
However, bargain hunters had picked up stocks at lower valuations, while institutions cherry-picked scrips for their portfolios, which saw index rise by 174 points. The selling pressure had been more profound in second-tier stocks, while blue-chips managed to stand their grounds.
Overall, stocks of 409 companies were traded on the exchange on Wednesday, of which 90 gained in value, 304 declined and 15 remained unchanged.
Volumes were led by:
- K-Electric Ltd: 56.83m shares traded (-1.63pc);
- Aisha Steel Mill: 34.22m shares traded (-4.69pc);
- Power Cement Ltd: 24.57m shares traded (-4.79pc);
- Bank Al-Falah: 16.16m shares traded (+1.97pc); and,
- TRG Pak Ltd: 14.42m shares traded (-1.33pc).
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