KARACHI:
The Pakistan Stock Exchange (PSX) closed lower by 826 points, or 0.62%, on Wednesday as investors booked profits following a choppy session.
The market saw an intra-day high of 133,566 points before sliding to a low of 132,326 and settling at 132,577.
Weakness in heavyweight stocks brought the index down by 397 points, although trading activity remained robust with 906 million shares changing hands.
In its market review, Topline Securities remarked that the KSE-100 index closed the session at 132,577, shedding 826 points, or 0.62%. The market saw a phase of consolidation, fluctuating between an intra-day high of 133,566 and a low of 132,326, as investors opted for profit-taking.
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The decline was mainly driven by negative contributions from Fauji Fertiliser Company, Engro Holdings, Bank AL Habib, Pakistan State Oil, and HBL, which together pulled the index down by 397 points, it said.
TPL Properties led the volumes chart, with trading in 66 million shares, Topline added.
Overall trading volumes decreased to 905.7 million shares compared with Tuesday’s tally of 1.2 billion. The value of shares traded was Rs30.5 billion. Shares of 478 companies were traded. Of these, 200 stocks closed higher, 254 dropped, and 24 remained unchanged.
