Karachi: Pakistan Stock Exchange (PSX) witnessed another negative session, as its benchmark KSE-100 Index closed lower by 447 points, mainly on selling in banking and exploration sectors.

Trading at KSE-100 remained volatile throughout session as index swayed both ways. At close, benchmark index settled at 74,219.44, down by 447.22 points or 0.60 percent. Companies such as HBL, OGDC, BAFL, BAHL and PPL collectively contributed to loss of 225 points. However, there were some positive movements from EFERT, FABL and TRG, which collectively added 37 points to index, it added. Volume on all-share index decreased to 348.55 million from 414.48 million session ago. Value of shares declined to Rs 16.39 billion from Rs 18.31 billion in previous session. K-Electric Ltd was volume leader with 25.28 million shares, followed by Amtex Limited with 23.59 million shares and WorldCall Telecom with 16.06 million shares. Shares of 441 companies were traded on Wednesday, of which 127 registered an increase, 246 recorded fall while 68 remained unchanged.

Brokerage house Ismail Iqbal Securities said equity market had remained volatile on Wednesday “Primarily due to uncertainty surrounding upcoming budget”