KARACHI: Pakistan stock market saw volatile trade as the fresh buying on dips supported the market to bounce back after correction on the other hand negative news triggered the selling pressure that kept market from breaking the ongoing bearish trend. The benchmark Index moved several times in both directions before closing in negative territory.
The Karachi Share Index (KSE-100) ended the day 86.44 points (0.18 per cent) down at 47,900.70 points against the previous closing of 47,987.14 points. The market went as high as 48,134.95 points during intra-day trading, while recorded as low as 47,865.11 points.
Trading volumes inclined to 619.11 million shares today, as compared to 610.7 million shares during last trading day, while the daily traded value increased to Rs18.64 billion from Rs15.5 billion in the previous session, the data said.
The market started the day in positive that led the Index above 48,000 points in the first hour of the trading day. The market came under profit-taking due to an increase in prices that enticed investors to book some gains. Later, the news of the blast in Lahore added to the investors’ worries and affected market sentiments, they added.
At least three died while over 24 were injured in a blast in Johar Town locality of Lahore, police said on Wednesday.
The share price of Island Textile increased by Rs45 to Rs2,345, while Hinopak Motor gained Rs34.57 to Rs495.56. On the other hand, Wyeth Pakistan Limited lost Rs64.80 today to close at Rs2,220 while Sanofi-Aventis lost Rs46.98 to close at Rs943.