KARACHI: The lacklustre activity seen in the early trading in Pakistan Stock Exchange as benchmark 100-index shed huge 376.02 points to drop to 37038.24 points level till 10:30am.
On Thursday, the weak sentiments were witnessed at the stock market as the 100-share index declined by 12 points (0.03%) to close at 37414.26 points. Stock market opened on a positive note and made an intra-day high of 112 points but came under selling pressure during the late hours of trade, as the index lost value to close down 12 points. Volumes decreased by 2% to 140m shares while value also decreased by 11.5% to Rs 6.8 billion. KEL and PIBTL were volume leaders with combined traded volume of 40m shares. Cement stocks went down following the budget. DGKC, MLCF and LUCK declined by 0.1%- 0.5%. International oil prices gained which led interest in local oil stocks. POL, PPL and OGDC closed up by 0.6%, 0.6% and 0.1% respectively.