KARACHI: Pakistan Stock Exchange (PSX) KSE-100 index plunged 1.18 percent owing to increase in political noise.

At close, KSE-100 finished with decrease of 480.44 points to settle at 40,323.45. Trading began with dip and market remained range-bound for rest of session to close in red. Sell-off accelerated in second session and enhanced losses. All index-heavy sectors including automobile, cement, banks, chemical and oil spaces ended day downward. A report from Capital Stake stated bears conquered PSX on last trading session of week. Sectors painting benchmark KSE-100 index in red included, oil and gas exploration (170.91 points), technology and communication (47.51 points) and banking (46.10 points).

Volume on all-share index inched down to 173.3 million from 175.4 million on Thursday. Value of shares traded fell to Rs 4.6 billion from Rs 5.9 billion recorded in previous session.

Hascol was volume leader with 25.1 million shares followed by WorldCall Telecom with 21.4 million shares and Pakistan Petroleum with 12.9 million shares. Shares of 324 companies were traded of which 81 registered an increase, 218 recorded fall and 25 remained unchanged.

Published in The Daily National Courier, January, 14 2023

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