Selling pressure overwhelmed the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index nosediving by over 3,700 points on Friday, reported 24NewsHD TV channel.
At close of business, the benchmark index settled at 157,496.10, a decrease of 3,714.57 points or 2.30%.
In the futures market, 567 companies recorded trading, of which 105 increased, 311 decreased, and 151 remained unchanged.
Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertilisers, oil and gas exploration companies, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, POL, PPL, MCB, MEBL, NBP and UBL, traded in the red.
Earlier on Thursday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) turned around to a bullish trend, gaining 5,433.46 points, a positive change of 3.49 percent, closing at 161,210.68 points.
A total of 723,879,788 shares were traded during the day as compared to 622,692,153 shares on the previous trading day, whereas the price of shares stood at Rs 35.179 billion against Rs 29.950 billion on the last trading day.
As many as 478 companies transacted their shares in the stock market, 350 of them recorded gains and 78 sustained losses, whereas the share price of 50 companies remained unchanged.
The three top trading companies were K-Electric Ltd. with 115,631,474 shares at Rs 8.05 per share, Trust Sec. & Bro.(R) with 50,032,929 shares at Rs 0.18 per share, and Unity Foods Ltd with 48,307,983 shares at Rs 10.08 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 399.00 per share price, closing at Rs 25,694.00, whereas Sazgar Engineering Works Limited was the runner-up with Rs 82.71 rise in its per share price to Rs 2,156.42.
PIA Holding Company Limited witnessed a maximum decrease of Rs 795.50 per share, closing at Rs 16,893.50, followed by Hoechst Pakistan Limited with a decline of Rs 118.76 to close at Rs 4,000.88.
Reporter: Kawish Memon