KARACHI: Uncertainty around internal political developments kept the Pakistan Stock Exchange (PSX) in the red zone, with the benchmark KSE-100 Index finishing the day down more than 100 points.
The Pakistani rupee’s record-breaking slide against the US dollar, along with the continuing political instability in the aftermath of a no-confidence vote, kept investors on the sidelines.
The KSE-100 Index finished down 101.14 points, or 0.23 percent, at 44,337.56 points.
A benchmark KSE-100 Index remained in the red throughout the day as a result of political turmoil and more rupee depreciation versus the US dollar.
“Mainboard activity remained subdued,” it said, adding that activity remained sideways as the market saw robust volumes in third-tier companies.
During the session, 354 shares were exchanged. 158 scrips ended the day in the green, 169 in the red, and 27 stayed unchanged.
Overall trading volume increased to 344.13 million shares, up from 268.91 million on Tuesday. The day’s trading volume was Rs7.8 billion.
K-Electric was the most active stock, trading 38.41 million shares at a price of Rs3.11. Ghani Global Holdings came in second with 31.11 million shares traded, earning Rs0.34 to finish at Rs16.24, while WorldCall Telecom came in third with 19.94 million shares traded, gaining Rs0.03 to conclude at Rs1.73.