KARACHI: The Pakistan Stock Exchange lost the psychological barrier of 47,000 till midday after shedding huge 437 points to drop to 47939 points level on Thursday.
The stocks, soon after opening positive, became bearish and lost 52 points to reach 48324 points level in early trading.
On Wednesday, the bearish sentiments continued to persist at PSX in third consecutive session and profit-taking led the shares index to decline by 148 points and to finish at 48,376 level.
E&P sector increased in value to close in the green zone as oil prices edged higher, hitting a one-week high. Banking sector (slip 0.7%) extended its previous day loss and closed in the red as the sector’s heavy weights, MCB (decline 1.6%) and HBL (1.7%), closed in the red again. ANL (slip 4.2%), BOP (3.9%) and POWER (rose 3.5%) were the volume leaders. Overall, volumes increased by 24 percent to 272 million shares, while value rose by 32 percent at Rs13.7 billion.
