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The Pakistan Stock Exchange (PSX) closed Wednesday’s trading session on a negative note, with the benchmark KSE-100 index failing to sustain intraday gains to lose 3 points, or 0.01 per cent, by the close of trading to reach 49,016.
Volumes were led by commercial banks and power generation and distribution scrips as the benchmark index peaked at 49,147 points and then retreated to its closing position.
"Range-bound activity was seen at the local bourse along with rising volumes," said Hammad Aman, an analyst at Topline Securities.
131.7 million shares had changed hands by the end of the session, with a total worth of nearly Rs9 billion.
Stocks of 382 companies were traded on the PSX, of which 203 gained in value, 165 declined and 14 remained unchanged.
Volumes were led by:
K-Electric Ltd.: 50.1m shares traded (-5.19pc);
Bank of Punjab: 29.1m shares traded (+6.15pc);
Azgard Nine: 22.9m shares traded (+7.80pc);
Power Cement Ltd.: 18.7m shares traded (+2.95pc); and,
Dost Steels Ltd.: 13.1m shares traded (+2.35pc).
"Stocks closed flat amid late-session pressure in oil stocks after a fall in global crude prices and concerns for a major fall in global equities," said analyst Ahsan Mehanti.
"Concerns for leverage issues and uncertainty over the outcome of the Panamagate case played a catalyst role in bearish activity," he added.
