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Bloodbath at PSX as benchmark index loses 1,123 points

Dawn 2017-12-07 16:06:44

A bloodbath was observed at the Pakistan Stock Exchange (PSX) on Thursday after three flattish sessions in the week. The benchmark KSE-100 index lost 1,123 on Thursday to hit 38,785.

Around 287 traded scrips landed in the red, with K-Electric having lost over six per cent of its value and Worldcall Telecom, TRG, Japan Power and Bank of Punjab also losing over 5pc.

The turnover picked up to reach over Rs6.2 billion from Wednesday's abysmal figures, with over 163 million shares traded.

The power generation and distribution sector was dominating trading with 26.6m shares traded, while technology and commercial banking sectors followed with 22.5m and 21.0m shares traded respectively.