Pakistan stock exchange crashes; ends down 4.71%

Pakistan stock exchange crashes; ends down 4.71%

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) crashed on Thursday owing to adverse reports on the fiscal front.

The index fell by 2,135 points to close at 43,234 points from the previous day’s closing of 45,369 points, showing a decline of 4.71 per cent.

Analysts at Topline Securities said that Pakistan equities witnessed a major bloodbath during today’s session where the benchmark KSE100 Index settled at 43,234 level and ended down 4.71 per cent.

The market opened on a negative note making an intraday low of 2,282 points as investors were concerned over multiple things like soaring trade deficit and higher than expected secondary market yields.

Sector-wise, cement were major laggards in today’s trading session as LUCK, MLCF, DGKC, CHCC closed at their respective lower circuits.

Further Technology, E&Ps and Fertilizers sector followed suit dragging the Index further down.

Traded volume and value for the day increased by 60 per cent and 53 per cent on a DoD basis to 386.57 million shares and Rs14.06 billion, respectively. WTL was today`s volume leader with 33.01 million shares exchanging hands.

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