Pakistan Stock Exchange (PSX) on Wednesday witnessed a bearish trend as the benchmark KSE-100 Index dropped 1379.28 points with a negative change of -1.19%, closing at 114,153.15 points against 115,532.43 points on the previous session.
Soon after the stock market opened trading, selling pressure emerged and within few minutes KSE-100 index dropped over 2000 points, however later it recovered some losses but still remained in red during the entire session.
Like other stock markets in the world, PSX is also suffered a huge losses on Monday with over 8000 points drop, however, on Tuesday the market remained in green and recover over 600 points but today, the bearish trend returned and the market.
A total of 267,354,365 shares were traded during the day as compared to 337,701,056 shares the previous trading day, whereas the price of shares stood at Rs 20.618 billion against Rs 27.26 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.
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 MARI, POL, PPL, PSO, SNGPL, SSGC, ARL, MCB, NBP and UBL traded in the red.
