The Pakistan Stock Exchange ended Wednesday’s trading session on a negative note, with the benchmark KSE-100 index losing 194.38 points, or 0.40 per cent, by the close of the trading session to reach 48,495.04.
Volumes were led by power generation and distribution companies and commercial banking stocks as volumes surged in a fairly volatile session.
“Stocks closed sharply lower on institutional profit taking in the post earnings season,” said Ahsan Mehanti from Arif Habib Corp.
“Dismal CPI inflation data for April’17 invited support in banking stock likely surge in bond yields. Pre-budget uncertainty, foreign outflows and major fall in global crude prices played a catalyst role in bearish close at PSX,” he added.
134.9 million shares had changed hands by the end of the session, with a total worth of nearly Rs9.9 billion.
Stocks of 370 companies were traded, of which 132 gained in value, 220 declined and 18 remained unchanged.
Volumes were led by:
K-Electric Ltd: 32.1m shares traded [0.00pc];
Engro Polymer: 25.4m shares traded [+1.40pc];
TRG Pak Ltd: 24.2m shares traded [-4.90pc];
Aisha Steel Mill: 12.4m shares traded [-4.35pc]; and,
Invest Bank: 10.3m shares traded [+21.76pc].