Pakistan Stock Exchange suffers huge losses
May 7, 2020 06:37 PM
The KSE-100 Index tumbled during the second half of the session on Thursday as it dropped 424.02 points.
It was a bad day for investors as the index remained in the red zone for most of day before going south at an alarming rate after 12:25pm.
After starting the day from the previous level of 33,728.18, the KSE-100 Index closed the day at 33,304.16, meaning it is down 18.24 percent since January 1.
As a whole, the KSE-100 Index stayed between the range of 33,811.36 and 33,238.88.
On Wednesday, the KSE-100 Index had shed 264.57 points after and closed the session at 33.728.18.
A total of 128,609,326 shares were traded on Thursday during the share prices of 216 companies went down with only 76 seeing some gains. Meanwhile, the share prices of 14 remained unchanged.
If we look at the sector-wise performance, the overwhelming majority of the companies in fertilizer, automobile, cement and cable/electrical goods sectors suffered losses.
Same was the case with banking, engineering and chemical sectors which saw their share prices going down.
Meanwhile, the oil and gas companies [both exploration and marketing] as well as those involved in power generation too had a similar experience.