PSX KSE-100 Falls Sharply at Midday
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) traded sharply lower at midday on Thursday. It lost 1,492.16 points, or 0.83 per cent, to stand at 177,591.64.
Market Highs and Lows
The index touched an intraday high of 180,310.44 earlier in the session. Selling pressure then pulled it down. It recorded a low of 177,317.80 during the day. The previous close stood at 179,083.80.
Trading Volume and Value
Trading volume in the index reached 164.54 million shares. The value of shares traded stood at Rs15.22 billion. The market remained open.
Sectors Under Selling Pressure
- Commercial banks
- Cement
- Oil and gas exploration companies
- Oil marketing companies
- Power generation
Heavy Stocks in the Red
- HUBCO
- OGDC
- PPL
- PSO
- HBL
- MCB
- MEBL
- UBL
Profit Booking by Investors
Investors appeared to be booking profits after recent gains. The index remains higher for the week and month despite the midday pullback.
Wednesday Session and Outlook
The decline follows a session on Wednesday in which the index closed 251.44 points, or 0.14 per cent, lower at 179,083.80 after late profit-taking pared earlier gains that had briefly taken it above 180,000.
Trading continues, and the final close will depend on activity in the remaining session.
