Staff Reporter
Karachi
The bear-run continued at Pakistan Stock Exchange on Wednesday as the benchmark KSE-100 index fell 293 points, pulled down by investor concern over outflow of foreign hot money and uncertainty in global equity markets.However, upbeat data of cement sales lent support to stocks of the cement sector. According to statistics released by the All Pakistan Cement Manufacturers Association (Apcma), cement sales grew 33.9% year-on-year to 4.49 million tons in February.
Earlier, stock trading began with a steep drop but market participants later resorted to cherry-picking, erasing the losses and taking the index in the positive territory. The advance, however, proved short-lived on investors’ concern over the national economy that triggered a selling spree, which continued till the end of the session. At close, the benchmark KSE-100 index recorded a decrease of 293.28 points, or 0.75%, to settle at 38,906.40.
