The Pakistan Stock Exchange (PSX) experienced another bearish session, with the benchmark KSE-100 index losing 489 points, or 1.19 per cent, to close at 40,611.
The index opened lower on Tuesday, continuing on a downward spiral before hitting the low of 40,287 points, to recover slightly towards the day's close.
Volumes experienced slight improvement with 184 million shares worth Rs 6.5 billion being traded in the session. Of the 367 symbols traded, 73 advanced, 273 declined while 21 remained unchanged.
According to a report by Topline Securities, National Electric Power Regulatory Authority (Nepra) announced the outcome of Multi Year Tariff (MYT) review petition submitted by K-Electric(KE), increasing the base tariff to Rs12.8/kWh against KE’s request of Rs15.9/kWh.
"We believe after lower than expected determination, Shanghai Electric may potentially revise down its bid or may even pull out altogether," the report said.
The move meant KE dominated trading with 76.7 million shares traded, also losing 7.51pc of its value.
Volumes were led by:
K-Electric Ltd: 76.7m shares traded [-7.51pc]
TRG Pak Ltd: 7.7m shares traded [-0.14pc]
JS Bank Ltd: 6.1m shares traded [+0.50pc]
Engro Polymer: 5.0m shares traded [-2.88pc]
Azgard Nine: 4.7m shares traded [-2.10pc]
