The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Wednesday again, losing 1,632.25 points, a negative change of 0.99 percent, to close at 164,626.29 points due to geopolitical tensions.
Experts have attributed the decline in the stock market to escalating tensions between the United States and Iran.
“US trade tariff uncertainty, geopolitical crises and uncertainty over the outcome of IMF third review talks played a catalyst role in bearish activity at PSX,” they added.
Out of 567 futures-market companies, 143 recorded gains, 278 declined, while 146 remained unchanged.
Earlier on Tuesday, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 166,258.54 points, down 1,432.54 points, or 0.85%.
K-Electric Limited topped the volume chart with 64,848,829 shares, followed by Bank of Punjab with 49,139,683 shares and WorldCall Telecom with 45,981,935 shares.
The top gainers included PIA Holding Company LimitedB, which rose by Rs 231.83 to close at Rs 16,727.33, and Sapphire Textile Mills Limited, which gained Rs 60.40 to settle at Rs 1,299.40.
On the losing side, Unilever Pakistan Foods Limited declined by Rs 247.64 to close at Rs 25,952.93, while Rafhan Maize Products Company Limited fell by Rs 218.23 to close at Rs 9,410.93.
In the futures market, turnover stood at 354,134,500 shares with a traded value of Rs 22.297 billion, compared to 190,560,500 shares worth Rs 10.422 billion in the previous session.
