KARACHI: The stock market witnessed a bearish trend for the second consecutive on Wednesday and retreated in the red zone as investors once again dumped stocks and resorted to profit-taking.
The benchmark KSE 100 index decline by 293.28 points, or a decrease of 0.75 percent, and closed at 38,906.40 points. The bourse started on a positive point but dropped below the 39,000 level. The total volume of scripts was 148.118 million valued at Rs6.293 billion.
Meanwhile, the KSE 30 index also dropped by 169.19 (0.94 percent) and closed at 17,856.26 points. The total volume of scripts was 88.501 million. The top active stock were MLCF (0.80%), FCCL (2.38%), PIOC (5.25%), DGKC (0.92%), and CHCC (2.87%), while Hascol (-1.01%), BOP (-1.03%), Unity (-0.64%), TRG (-3.43%), and FFL (0.27%) saw a decline in share prices.
The stock market rallies on the opening day of the week and recorded an exceptional bullish performance over easing inflation and lower crude oil prices. The market was, however, unable to regain control and the index dropped in the negative territory for the second consecutive day.
There was major investment in the cement sector as investors bought stock. The share prices of Attock Cement (+3.4), Cherat (+1.87), Bestway (3.02), DGKC (+0.7), Dewan (+0.26), Fauji (+0.39), MLCF (+0.21), Lucky Cement (+1.95), Power Cement (+1.71) and Thatta Cement (+0.5) saw an increase.
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