The Pakistan Stock Exchange (PSX) witnessed another bearish session on Thursday, with the benchmark KSE-100 Index shedding 7.46 points (-0.02 percent) to close at 44,825.97 points.
The market opened on a negative note and remained bearish, shedding over 600 points. However, the market turned around during the last one hour trading and eroded almost all the losses of the day.
According to experts, the market continued to witness a bearish spell owing to the selling pressure amid increasing Covid-19 cases across the country as well as surging crude oil prices which touched seven-year highs a day earlier. The investors remained risk-averse due to the rising number of Covid-19’s new variant Omicron cases in the country, which set a new single-day peak of all five waves on Thursday.
The KSE-100 Index moved in a range of 600.2 points, showing an intraday low of 44,275.2 points and a high of 44,875.4 points. Among other indices, the KSE All Share Index shed 13.74 points (-0.04 percent) to close at 30,750.03 points, while KMI All Share Islamic Index gained 65.85 points (+0.3 percent) to close at 22,165.29 points.
A total of 359 companies traded shares in the stock exchange, out of them shares of 169 closed up, shares of 168 closed down while shares of 22 companies remained unchanged. TLTP
