ISLAMABAD: The ongoing political unrest followed by riots and protests after the arrest of PTI Cheif Imran Khan, the 100-index of the Pakistan Stock Exchange (PSX) witnessed a downward trend for the second consecutive day and lost 298.86 points on Wednesday with a negative change of 0.72 per cent. At the close of the trading, the index recorded 41,074.95 points against 41,373.81 points the previous day. On the last day soon after Imran Khan’s arrest, the market remained under pressure, and the index lost 450 points.
On Wednesday, a total of 99,182,930 shares were entertained compared to 203,054,036 shares on Tuesday, whereas the price of shares stood at Rs 3.330 billion compared to Rs 5.847 billion the previous trading day.
As many as 324 companies traded their shares in the stock market, out of which 101 recorded gains and 203 sustained losses, whereas the share price of 20 companies witnessed no change.
The three top-trading companies were WorldCall Telecom, with 14,290,890 shares at Rs 1.14 per share; TPL Properties, with 6,184,982 shares at Rs 12.57 per share; and Bank Al-Falah with 4,05,757 shares at Rs 30.01 per share.
Nestle Pakistan witnessed an increase of Rs 23.28 per share price, closing at Rs 5800.00, whereas the runner-up was Thal Ind Crop. with a rise of Rs 14.63 in its per-share price to Rs 298.99.
Sapphire Fiber witnessed a maximum decline of Rs 75.70 per share, closing at Rs 934.30, followed by Bhanero Tex. with a decline of Rs 69.23 to close at Rs 1130.77.
Downward Trend at Pakistan Stock Exchange
Economy experts are of the view that the ongoing uncertain situation in the country would have a subtle effect on the national economy and on the stock market as investors require stability in all sectors.
It is worth noting that the downward trend in the market prevailed from the very first day of the week (Monday) when the index lost over 455 points amid the unsatisfactory news over the delaying IMF tranche.
