Daily Times

The 0.52 percent decline in the KSE index on Wednesday made investors take profits again on the Pakistan Stock Exchange (PSX). On the day in question, both the volume and the value of shares exchanged declined. Early in the morning, the benchmark KSE 100 index surged to an intra-day high of 46,643.04 (up 235.78 points), marking the start of a strong day for the market. However, profit-taking was evident later in the day, causing the index to fall to an intra-day low of 46,061.57. (down 345.68 points).

The KSE-100 Index closed at 46,165.50, a decrease of 241.76 points or 0.52 percent from its previous closing. The market opened on a gloomy note, but value purchasing was observed in the first trading hour after the market closed. According to the brokerage house, mainboard activity remained subdued, although the market saw strong volumes in 3rd-tier equities. In the last trading hour, investors selected profit-taking across the board, causing the index to close in the red zone.

According to Sazgar’s market notification, the company produced 1,950 three-wheelers in March 2022, while it sold 1,911 of them. While 73 four-wheeler vehicles were manufactured and 71 were sold in March 2022, it stated. Cement (-94.98 points), banking (-62.55 points), and investment banking were the main drags on the benchmark index (17.03 points).

There were 474.59 million shares traded on the all-share index on Wednesday, down from 493.6 million on Tuesday. The value of shares fell to Rs12.35 billion, down from Rs13.86 billion in the previous day’s trading session. With 80.74 million shares, Flying Cement led the pack, followed by WorldCall Telecom Limited (42.74) and Ghani Global Holdings (32.52).