The Pakistan Stock Exchange ended Thursday’s trading session on a negative note, with the benchmark KSE-100 index losing 345.81 points, or 0.69 per cent, by the close of the trading session to reach 49,481.70.
Volumes were led by corporate banks as the benchmark index witnessed bearish activity due to the usual pressure which arises during the futures rollover week.
110.8 million shares of indexed companies had changed hands by the end of the session, with a total worth of nearly Rs7.93billion.
“Stocks closed lower amid pressure on institutional profit-taking post major earnings announcements at PSX,” said Ahsan Mehanti, analyst at Arif Habib Corp.
“Weak global crude prices, political uncertainty and investor concerns for surging current account deficit, foreign outflows played a catalyst role in the bearish close [in] the futures rollover week,” he added.
Stocks of 389 companies were traded, of which 177 gained in value, 189 declined and 23 remained unchanged.
Volumes were led by:
Engro Polymer: 36.6m shares traded [+2.87pc];
Aisha Steel Mill: 27.9m shares traded [+3.49pc];
Azgard Nine: 26.9m shares traded [+1.28pc];
Summit Bank: 24.7m shares traded [+4.23pc]; and,
Power Cement Ltd: 24.4m shares traded [-4.73pc].