PSX benchmark index sheds 236 points

Karachi

The Pakistan Stock Exchange (PSX) on Thursday landed in the red, with the benchmark KSE-100 index shedding 236 points to close at 42,536 points.
The benchmark index opened on a positive note to hit a day’s high of 42,838 points but failed to continue the momentum and touched a day’s low of 42,447 points near the end of the session.
In all, 127 million shares worth Rs4.7 billion were traded at the exchange. Of the 325 traded scrips, 112 advanced while 184 declined and 29 remained unchanged.
A JS Global report held political uncertainty responsible for the bearish trend at the bourse. “The selling pressure in the market was on the back of investor scepticism regarding the political scenario in the country,” read the report. Commercial banks dominated trading by a margin with 29.83m shares traded.
Volumes were led by: Faysal Bank Limited: 11.9m shares traded [+2.96pc]; First Dawood Investment Bank Ltd: 10.98m shares traded [+14.42pc]; Bank Of Punjab:10.86m shares traded [+0.25pc]; Unity Foods Limited: 7.84m shares traded [+4.94pc], and Pakistan Elektron Ltd: 6.47m shares traded [-3.07pc].

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