ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed another volatile session on Thursday as the benchmark KSE-100 Index lost more than 1,500 points before closing at 112,638.26 points.
According to the PSX website the stock market closed with a negative change of 1.32 %.
During the trading session, the KSE-100 index saw fluctuations, reaching both highs and lows. However, selling pressure in the final hours led to a decline of 1,510.19 points.
Selling activity was observed in major sectors such as automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation. Key index stocks, including HUBCO, NRL, MARI, PSO, SSGC, SNGP, MCB, MEBL, NBP, and UBL, all closed in the red.
“We think fresh positive triggers for the market are few in the near term, while uncertainties around politics are rising,” said Intermarket Securities in a note.
“Pakistan market will keep a watchful eye on the incoming US administration; some members of which have voiced concerns on Imran Khan remaining in jail,” it added.
On Thursday a total of 695,142,411 shares were entertained as compared to 1,099,982,065 shares the previous working day, whereas the price of shares stood at Rs 24.293 billion against Rs. 32.466 billion on the last trading day.
As many as 454 companies transacted their shares in the stock market, 89 of them recorded gains and 321 met losses, whereas the share price of 44 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 195,296,323 shares at Rs 1.79 per share followed by K-Electric Limited with 48,682,503 shares at Rs.4.76 per share whereas Cnergyico PK settled with 35,460,848 shares at Rs.6.69 per share.
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Rafhan Maize Products Company Limited registered a maximum increase of Rs.125.47 per share price, closing at Rs 9,080.41, whereas the JDW Sugar Mills Limited was the runner-up with Rs 90.50 rise in its per share price to Rs.995.45.
Unilever Pakistan Foods Limited witnessed a maximum decline of Rs 188.99 per share closing at Rs 20,811.01 followed by Nestle Pakistan Limited with a drop of Rs 131.02 to close at Rs.7,151.21.
On Wednesday the Pakistan Stock Exchange (PSX) faced heavy selling pressure, with the benchmark KSE-100 Index dropping by 1,904 points.
Globally, the bond market rout that has weighed on equities and strengthened the safe-haven US dollar showed signs of slowing on Thursday, despite Japanese yields reaching new multi-year highs.
Stock selling persisted, with most Asian share indexes dipping in early trading. The dollar remained stable, while oil prices saw a slight decline.
The US dollar and Treasury yields have been bolstered by recent indications of economic resilience and persistent inflation, leading to a reduction in market expectations for significant Federal Reserve easing this year.
