ISLAMABAD: After a temporary and slight gain of 31 points last day, the 100-index of the Pakistan Stock Exchange (PSX) witnessed a major decline of 432.23 points on Wednesday with a negative change of 1.06 percent and closed at 40,220.80 points against 40,653.03 points on Tuesday.
This was the second time the index lost points over 400; last week, the 100 index dropped 680 points. In both cases, the investors remained in the red zone and avoided buying, probably due to the ongoing uncertainty over the IMF deal.
On Wednesday, a total of 97,020,043 shares were transacted against 124,856,236 shares last day, whereas the price of shares stood at Rs.3.572 billion compared to Rs. 4.031 billion on Tuesday.
As many as 323 companies traded their shares in the stock market, only 69 of them recorded gains and 231 sustained losses, while the share price of 23 companies remained unchanged.
Bearish Trend at Pakistan Stock Exchange
Throughout the day the market remained in the red zone, and most of the top-tier companies avoided buying. As precedented WorldCall Telecom stood high among the three top-trading companies with 11,646,057 shares at Rs.1.11 per share and Bankislami Pak with 7,858,759 shares at Rs.16.12 per share, followed by Shell Pakistan with 4,664,600 shares at Rs.109.18 per share.
Js Global Cap recorded a maximum increase of Rs.6.73 per share price, closing at Rs.205.00, whereas Gatron Ind. XB settled as the runner-up with an increase of Rs.4.42 in its per-share price to Rs.248.48.
Allawasaya Tex witnessed a maximum decline of Rs.164.00 per share, closing at Rs.2,024.00, followed by Bata (Pak) with a decline of Rs.85.57 to close at Rs.1,750.00.
