ISLAMABAD: Selling pressure returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index losing nearly 1,400 points on Wednesday.
Negative sentiments continued throughout the day, pushing the benchmark index to an intra-day low of 112,891.48.
At close, the benchmark index settled at 114,153.15 with a decrease of 1,379.28 points or 1.19%.
The selling was observed in key sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries. Index-heavy stocks including OGDC, POL, PPL, PSO, SNGPL, SSGC, MCB, MEBL, and UBL traded in the red.
A total of 448,693,567 shares were traded during the day as compared to 530,694,779 shares on the previous trading day, whereas the price of shares stood at Rs 26.585 billion against Rs 33.676 billion on the last trading day.
As many as 450 companies transacted their shares in the stock market, 118 of them recorded gains and 281 sustained losses, whereas the share price of 51 companies remained unchanged.
The three top trading companies were K-Electric Limited with 54,549,738 shares at Rs 4.21 per share, followed by Cnergyico PK with 51,834,762 shares at Rs 8.32 per share whereas PIA Holding Company settled with 20,463,930 shares at Rs 18.80 per share.
Philip Morris (Pakistan) Limited witnessed a maximum increase of Rs 118.82 per share closing at Rs 1,307.02 whereas PIA Holding Company LimitedB was the runner-up with Rs 97.76 rise in its share price to close at Rs 1,102.34.
Hoechst Pakistan Limited witnessed a maximum decline of Rs 134.31 per share price, closing at Rs 3,055.69, whereas the runner-up was Services Industries Limited with a fall of Rs 60.23 in its per share price to Rs 923.40.
On Tuesday, the PSX saw a rebound, fuelled by widespread gains across multiple sectors, in line with a positive global market trend. The benchmark KSE-100 Index rose by 623 points, or 0.54%, ending the day at 115,532.43 points.
Globally, major stock indexes sank in Asia on Wednesday after President Donald Trump’s eye-watering 104% tariffs on China took effect, while a savage selloff in Treasuries sparked fears foreign funds were fleeing US assets.
