Staff Reporter
Karachi
After a day’s respite, bears once again dominated the stock market on Wednesday as selling pressure weighed on investors’ sentiment.
Despite a host of positive triggers, such as encouraging cement and petroleum product sales, the benchmark KSE-100 index succumbed to profit-booking and dropped nearly 200 points in a turbulent session.
Earlier, trading kicked off on a positive note, however, the bull-run could not be sustained and the index retreated into the red zone. Trading remained choppy with the index swinging between red and green zones but after midday the trend remained negative.
At close, the benchmark KSE-100 index recorded a decrease of 198.92 points, or 0.49%, to settle at 40,281.96 points.
Selling pressure pushed key stocks in banking, cement, oil and gas marketing sectors into the red.
