- Falls to 47,900.7 as concerns over FATF's decision remain
The KSE-100 Index, widely considered a benchmark for market performance, declined for the third successive day after another volatile session at the Pakistan Stock Exchange (PSX) on Wednesday.
Volatility has persisted amid the ongoing plenary meeting of the Financial Action Task Force (FATF) that is likely to announce its decision on Pakistan. At close of trading on Wednesday, the KSE-100 ended 86 points or 0.18% lower, finishing at 47,900.70. It has now cumulatively shed 337 points since earlier this week when it began trading at 48,238.
Upcoming concerns over the FATF decision has kept investors on the sidelines. The ongoing FATF plenary at Paris will review Pakistan’s progress made to curb AML/CFT activities and decide whether the country remains on the ‘grey list’ or not.
Volume on the all-share index improved from 610.74 million shares on Tuesday to 619.11 million shares. The value of shares traded during the session clocked in at Rs18.64 billion.
Silk Bank Ltd was the volume leader with 52.28 million shares, followed by WorldCall Telecom (41.58 million), and TPL Corp Ltd (33.93 million).
Shares of 420 companies were traded during the day with 192 registering an increase, while those of 204 declined. Share prices of 24 companies remained unchanged.