Selling pressure persisted at the Pakistan Stock Exchange (PSX) for the seventh consecutive session on Thursday, with the benchmark KSE-100 Index declining by 1,732.18 points, or 1.09%, to close at 156,732.87.
The market initially opened on a positive note, touching an intra-day high of 159,507.41 before brackly news-taking in later hours dragged it down to an intra-day low of 156,327.60. The KSE-100 Index has now lost over 10,500 points across seven consecutive negative sessions.
According to brokerage house Topline Securities, rollover activity and inconsistent corporate earnings weighed on investor sentiment. Blue-chip stocks including ENGRO, BOP, SYS, UBL, and MCB were the main underperformers, collectively eroding 1,162 points from the index.
On Wednesday, the benchmark had dropped 1,635.97 points, or 1.02%, to close at 158,465.06, as selling continued amid weak institutional participation and rollover-related anxiety.
Meanwhile, the Pakistani rupee appreciated slightly by 0.01% against the US dollar in the inter-bank market. It closed at 280.92, gaining Re0.04 from the previous day’s close.
Trading volume on the all-share index fell to 848.30 million shares from 951.84 million a day earlier, while the total value of shares traded decreased to Rs37.61 billion from Rs41.31 billion. Bank of Punjab led the volumes with 84.18 million shares, followed by WorldCall Telecom with 50.19 million shares and K-Electric Ltd with 47.80 million shares.
A total of 475 companies were traded, of which 148 advanced, 293 declined, and 34 remained unchanged.
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