PSX continues to remain in red as benchmark index sheds 644 more points
The Pakistan Stock Exchange (PSX) continued to remain in red on Thursday with the benchmark KSE-100 index falling below 43,000 points.
The index opened lower and lost over 400 points within the first half hour of trading, closing at 42,359 after losing 644 points.
"The pressure continued from the previous session where investors remained wary of foreign selling and continued deterioration in macroeconomic outlook," while Moody’s downgrading Pakistan's outlook from stable to negative added to concerns, Elixir Securities said.
Around 241.7 million shares worth Rs9.33 billion were traded at the exchange. Of the 330 traded scrips, only 57 advanced, while 259 declined and 14 remained unchanged.
Power generation and distribution sector dominated the day's trading with 49.3m shares, while commercial banks followed with 47.6m shares traded.
Volumes were led by:
K-Electric Limited: 48.3m shares traded [-2.48pc];
Summit Bank Limited: 22.0m shares traded [-1.36pc];
Pakistan Intl. Bulk Terminal Ltd: 16.4m shares traded [+9.01pc];
TRG Pakistan Ltd: 9.6m shares traded [-0.52pc];
Power cement Limited: 9.4m shares traded [-2.73pc].