KARACHI: The index fell back to the psychological level of 82000 points due to bearishness in the Pakistan Stock Exchange.
According to Express News, the Pakistan Stock Exchange was down on Thursday after the activities of those seeking quick profits on the news of the IMF Executive Board’s approval of a new 37-month 7 billion dollar loan program for Pakistan. I stayed
59.23% share prices fell due to recession while 71 billion 41 crore 32 lakh 56 thousand 926 rupees of investors were lost. The Hundred Index touched a new high of 82,905 points at one point with the market rallying by 658 points due to positive sentiments at the start of business.
Later in the afternoon, the market went into a downward spiral due to increased selling in other sectors of the index, including power generation, oil and gas, which at one point fell by 695 points.
However, in the closing moments, re-buying activities at lower prices moderated the intensity of the decline, resulting in the KSE 100 index closing down by 589.95 points at 81,657.97 points.
The KSE 30 index closed down 246.28 points at 25875.13 points, the KSE All Share Index closed down 348.44 points at 52269.81 points and the KMI 30 index closed at 125893.32 points down 1460.46 points.
The business volume was 0.42 percent higher than Wednesday and a total of 4239 million 42 thousand 319 shares were traded, while the scope of business activities was limited to 444 companies’ shares, in which 125 increased in price, 263 decreased in price and 56 prices remained stable.
Among the companies whose share prices increased significantly, the price of Sapphire Textile increased by Rs.108.85 to Rs.1257.62 and the price of Hallmark Company Limited increased by Rs.93.29 to Rs.1027.29 while the price of Unilever Pakistan Foods decreased by Rs.254.31 to Rs.17145 and The price of sapphire fibers decreased by Rs 119.90 to Rs 1310.
