KARACHI: The bearish note further intensified at the Pakistan Stock Exchange as benchmark 100-index shed massive 358.04 points to drop to 39982.42 points level after losing 40,000-point mark till midday on Wednesday.
Earlier, the PSX opened bearish and lost 70.77 points to reach 40269.69 points level in early trading.
On Tuesday, stock market closed lower amid record trades in thirds tier scrips. The 100-share index declined by 74.26 points or (0.18%). Volatility prevailed as the index, after hitting an intraday high of 94 points and intraday low of 285 points, finally closed at 40,340.46 points. Despite volatility, there was a surge in a number of shares traded, as volumes for the day accumulated to 903m shares versus 877m shares of the previous day.
HCAR continued to gather investors’ interest, as it gained to close on its upper circuit on the back of 50% MoM increase in sales number for the month of August. OGDC (down 0.07%) and PPL (0.35%) in the E&P sector lost value to close in the red zone, as crude oil prices declined.
Volumes increased by 3% to 903mn shares while value rose by 7.8% which is the highest value recorded since June 2015 of Rs20.7b/$198m. DSFL led the volume with 70m shares traded while hitting its lower and upper limits, both during the day. Engineering sector was in limelight as ISL and ASTL closed at their upper limit of 5%. —INP
