KARACHI: Bears continue to rule the Pakistan Stock Exchange (PSX) on Thursday due to extensive selling by investors amid severe flooding situation in the country.
During the intraday trading, the KSE-100 index shed 212.92 points to reach 147,281.11 points, marking a decline of 0.14 percent.
Experts said flood warnings from the National Disaster Management Authority (NDMA) have also dampened sentiment.
The authority highlighted a “very high to exceptionally high” flood risk in Lahore and parts of Punjab following heavy rains and India’s release of water, with army aid sought in several districts.
Rollover activity and prevailing flood concerns are likely to keep the market volatile, with investors expected to remain cautious in the coming sessions, Topline Securities said in its analysis.
A day earlier, the KSE-100 Index witnessed bearish trend, losing 941.03 points, a negative change of 0.63 percent, closing at 147,494.03 points against 148,435.06 points last trading day.
A total of 856,664,471 shares were traded during the day as compared to 665,420,243 shares the previous trading day, whereas the price of shares stood at Rs 29.286 billion against Rs 31.543 billion on the last trading day.
As many as 477 companies transacted their shares in the stock market, 129 of them recorded gains and 312 sustained losses, whereas the share price of 36 companies remained unchanged.
