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PSX: KSE 100 sees selling pressure but market remains over 41,000

The Pakistan Stock Exchange (PSX) once again ended on a negative note on Wednesday with the market witnessing selling pressure.

The benchmark KSE 100 Index lost 194 points, or -0.47%, by the close of trading to reach 41,186.

Close to 258.4 million shares had changed hands by the end of the session, with a total worth of nearly Rs12.2 billion.

Stocks of 374 companies were traded, of which 143 gained in value, 212 declined and 19 remained unchanged.

Volumes were led by Unity Foods Ltd, with 60.2 million shares traded. Pakistan International Bulk Terminal (PIBTL), Hascol, the Hub Power Company Limited (HUBC) and Power Cement Ltd closed out the top five symbols traded, with volumes of 31.2m, 26.8m, 16.8m and 12.6m, respectively.

The Unity share price was up 2.03%, trading at Rs23.17; PIBTL share price was down 0.38%, trading at Rs13.26; Hascol share price was up 1.34%, trading at Rs15.89; HUBC share price was up 5.46%, trading at Rs84.36; while Power Cement’s share price was down 2.15%, trading at Rs10.03.

The index saw a slight increase at the opening of trading but the KSE 100 Index dipped as soon as it made some gains at 9:36am to reach 41,495 and fell to 41,338 ten minutes later. However, the index recovered and reached its highest of 41,687 at 11:32am. As soon as the Index reached that mark the market saw selling pressure and a downward trend began with the market reaching its lowest at 41,069 at 2:42pm.

The index, after hitting its lowest, recovered and closed at 41,186 points.

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