KARACHI: Pakistan stocks fell by 148 points on Wednesday due to lack of participation by investors during the day.
The benchmark KSE-100 of Pakistan Stock Exchange (PSX) ended at 42,007 points from previous day’s closing of 42,155 points, showing a decline of 148 points.
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Analysts at Arif Habib Limited said that a negative session was witnessed at PSX on Wednesday, as lack of participation led the index to trade in red zone for majority of trading session.
Volumes remained dry in the main board whereas, 3rd tier stocks continued to remain board leaders. Technology sector remained in the limelight.
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Sectors contributing to the performance include Technology (-218.5), Cement (-39.2 points), Chemical (-11.6 points), Vanaspati & Allied Industries (-10.9 points) and E&P’s (-7.8 points).
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Volumes decreased from 304.8 million shares to 238.7 million shares (-21.7 per cent DoD). The average traded value also decreased by -20.3 per cent to USD 36.0 million as against USD 45.21 million.
Stocks that contributed significantly to the volumes are KEL, WTL, TELE, PRL and CNERGY.
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Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.