The benchmark KSE-100 Index ended 369 points lower on Wednesday, as all intra-day gains were erased after a positive start to the session.
The KSE-100 eventually finished at 47,318.03, a fall of 368.96 points or 0.77%, but not before it had an intra-day high of 47,874.69.
The fall comes a day after the State Bank of Pakistan's (SBP) Monetary Policy Committee (MPC) announced to keep the key interest rate unchanged at 7% for the next two months. However, reports of rising infections, and looming lockdowns took toll on investor sentiment that forced profit-booking.
Sectors dragging the benchmark index downwards included technology and communication (93.22 points), cement (38.76 points) and banking (31.19 points).
Volume on the all-share index decreased from 432.62 million on Tuesday to 365.77 million on Wednesday. The value of shares traded during the session amounted to Rs12.26 billion, a decrease from Rs13.87 billion on Tuesday .
WorldCall Telecom remained the volume leader with 40.37 million shares, followed by Byco Petroleum with 26.89 million shares, and Telecard Limited at 13.22 million shares.
Shares of 432 companies were traded on Wednesday, of which 91 registered an increase, 329 recorded a fall, while 12 remained unchanged.