Bearish trend prevail at PSX

Bearish trend prevail at PSX

Karachi (Staff Report): Bearish trend prevailed at Pakistan Stock Exchange on Thursday as the KSE-100 index plunged over 1,000 points – falling far below the 39,000 level.

After a brief open in the positive, the KSE-100 index tumbled to hit an intra-day low of 38,247 points as selling pressure continued to drive the index lower. At the end of trading, the benchmark KSE 100-share Index recorded a decrease of 1,002.48 points or 2.55% to settle at 38,300.63 points.

Overall, trading volumes increased to 189.8 million shares compared with Tuesday’s tally of 138.1 million. The value of shares traded during the day was Rs8.98 billion.

Shares of 358 companies were traded. At the end of the day, 80 stocks closed higher, 262 declined and 16 remained unchanged.

WorldCall Telecom was the volume leader with 20.7 million shares, losing Rs0.08 to close at Rs1.58. It was followed by K-Electric with 15.5 million shares, losing Rs0.14 to close at Rs5.18 and Pak Elektron with 10.6 million shares, gaining Rs1.13 to close at Rs24.90.