The Pakistan Stock Exchange (PSX) continued the strong bullish trend on Thursday as the benchmark KSE-100 Index plunged to 156,732.87 points following a drop of 1732.18 points with a negative change of 1.09%.
At the onset the market opened in green and gained over 1000 points to reach 159,507.41 points, the highest of the session, but could not maintain the rally after selling pressure emerged. At one point the stock market plunged to 156,327.60 points but later gained some points and closed at 156,732.87 points against 158,465.05 points in the previous session.
As many as 474 companies transacted shares in the ready market; 147 recorded gains, 293 sustained losses, while 34 remained unchanged.
The overall trading volume in the ready market stood at 844.103 million shares compared to 951.84 million shares a day earlier, while the traded value decreased to Rs37.402 billion from 41.31 billion.
Selling was observed in key sectors including commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refineries. Index-heavy stocks, including ARL, MARI, OGDC, POL, PPL, MCB, MEBL and UBL, traded in the red.
On Wednesday, the PSX witnessed sustained selling pressure as investors continued to offload positions amid rollover anxiety and weak institutional participation. The benchmark KSE-100 Index dropped 1,635.97 points, or 1.02%, to close at 158,465.06.
