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Bears force bulls out of PSX that loses 1,146 points

ISLAMABAD: The 100-index of Pakistan Stock Exchange (PSX) witnessed a bearish trend on Wednesday, losing 1,146.62 points, a negative change of 1.73 percent, closing at 65,280.16 points against 66,426.78 points the previous trading day.

A total of 1,358,411,606 shares valuing Rs.37.657 billion were traded during the day as compared to 969,630,378 shares valuing Rs.26.931 billion the last day.

Some 412 companies transacted their shares in the stock market; 93 of them recorded gains and 304 sustained losses, whereas the share prices of 15 remained unchanged.

The three top-trading companies were WorldCall Telecom with 153,676,751 shares at Rs.1.65 per share, Bank of Punjab with 106,283,289 shares at Rs.6.29 per share and K-Electric Ltd with 90,068,235 shares at Rs.4.52 per share.

Sapphire Fibres Limited witnessed a maximum increase of Rs.29.50 per share price, closing at Rs1,699.50, whereas the runner-up was Mehmood Textile Mills with a Rs 23.82 rise in its per share price to Rs 470.32.

Rafhan Maize witnessed a maximum decrease of Rs649.00 per share closing at Rs 10,350.00, followed by Nestle Pakistan with Rs.194.00 decline to close at Rs.8,506.00.