The Pakistan Stock Exchange (PSX) finished Wednesday’s trading session on a negative note, with the benchmark KSE-100 Index losing 148 points, or 0.30 per cent, by the close of the trading session to reach 48,909.10.

93.6 million shares changed hands in the session, with a total worth of nearly Rs9.03 billion.

Volumes were led by commercial banks and textile composite company scrips as the benchmark index slowly descended into negative territory after making a brief 384 point jump early in the day.

"Stocks closed lower amid consolidation in the post earnings season," said analyst Ahsan Mehanti. "Mid-session rally after SECP approvals over review of financing by broker firms invited investor interest in second and third tier stocks," he said.

"Foreign outflows, uncertainty in global stocks and concerns for rising circular debt played a catalyst role in the bearish close," he added.

Stocks of 380 companies were traded, of which 160 gained in value, 196 declined and 24 remained unchanged.

Volumes were led by:

1. Azgard Nine: 27.9m shares traded [-4.16pc];

2. Bank of Punjab: 23.4m shares traded [-3.89pc];

3. Power Cement Ltd: 16.5m shares traded [+3.52pc];

4. Sui North Gas: 14.7m shares traded [-3.43pc]; and,

5. Pak Refinery: 12.1m shares traded [+2.21pc].