KARACHI: The bearish note further deepened at Pakistan Stock Exchange as the benchmark 100-index dropped 76 points to reach 48012 points level till midday on Wednesday.
Earlier, the stocks opened bearish and shed 30 points to reach 48059 points level in early trading
On Tuesday, the stock market witnessed another lacklustre session, with investors sitting on the bench waiting for the political situation to unfold. The PSX shares index traded in a narrow band and eventually succumbed to profit-taking, closing down 139points or (0.29pc) and to finish at 48,088 levels, brokers said.
Banking sector weighed down on the index as heavy weights HBL (slip 0.91pc), UBL (1.68pc) and MCB (0.55pc) came under pressure during latter half of the day to close in red territory. Market participation thinned further; volumes declined 15 percent to 135 million shares, while traded value plunged 32 percent to Rs8.0 billion.
