KARACHI: Pakistan stocks witnessed a decline of 284 points on Thursday owing to sharp yields of treasury bills.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 45,249 points from previous day’s closing of 45,533 points, showing a decline of 284 points.
READ MORE: Pakistan stocks fall 284 points in volatile trading
Analysts at Arif Habib Limited said that the market nosedived right from the opening due to T-bill yields recorded 24 years high yesterday.
The benchmark KSE-100 index traded in the red zone throughout the day as bears dominated the market and investor opted for profit selling.
READ MORE: Pakistan stocks decline 255 points in volatile trading
“The secession remained volatile as selling was observed across the board, On the contrary hefty volumes were observed in 3rd tier stocks,” they added.
Sectors contributing to the performance include Technology (-56.9 points), Fertilizer (-49.5 points), Power (-46.5 points), and E&P (-43.7 points).
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Volumes increased from 223.8 million shares to 325.5 million shares (+45.4 per cent DoD). Average traded value also increased by 66.4 per cent to reach US$ 50.0 million as against US$ 30.0 million.
Stocks that contributed significantly to the volumes included WTL, CNERGY, HU MILLIONL, PAEL and LOTCHEM.
