PSX: 100-Index Drops Below 44,000 As Stock Market Plunge

The Pakistan Stock Exchange (PSX) has been on a downward trend and the market continued to decline on Wednesday.

At the end of the trading day, the benchmark ‘KSE 100 Index’ closed at 43,692 points, down 531 points.

The index had a low of 43,620 points on Wednesday, with some improvement at the end of the day.

A total of over 360 million shares worth over Rs. 21 billion were traded in the stock market.

A total of 359 stocks were traded, of which 104 gained, 238 lost and 17 remained stable.

The highest turnover was over 38.1 million shares of TRG Pakistan Limited, followed by Unity Foods Limited with 25 million shares, Ghani Global Holdings Limited with 19.1 million shares and Fauji Fertilizer Bin Qasim Limited (FFBL) with 57.7 million while Pakistan Refinery Limited had a turnover of 14.9 million shares.

It may be recalled that the 100 Index has declined by more than 2,000 points in the current business week.

Earlier in February, the Pakistan Stock Exchange (PSX) witnessed a record one billion shares traded for the first time in 16 years thanks to penny stocks.

The trading session at PSX depended on the number of shares, with World Call Telecom (WTL) accounting for only 37% and three companies, most of which accounted for 51%. In terms of shares, WTL remained at the top with 370 million shares and ended at Rs. 68 paise.