Share prices take a deep plunge at Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) witnessed a volatile day on Wednesday as the benchmark KSE-100 Index dropped by nearly 1,600 points.At the end of the day, the KSE-100 Index lost 1,598.82 points or minus 1.41 percent to reach 113,443.43 points.Analysts believed that the upcoming Monetary Policy Committee (MPC) meeting on January 27 could help boost investors’ confidence if it announces to lower the interest rate by another 100bps.They further said that investors’ concerns over dismal growth projections and speculations over government-PTI talks played a catalyst role in the bearish activity.On Tuesday, the PSX’s winning streak ended as the index shed over 800 points at the closing of the market.The index lost 802.56 points, or 0.69 percent to settle at 115,042.25 points. A total of 767.27 million shares were traded during the day at the PSX, from the previous session’s 675.04 million shares.The price of shares stood at Rs31.82 billion, as against Rs37.53 billion on the last trading day at the Pakistan Stock Exchange.As many as 450 scrips were active in the stock market, out of which 135 recorded gains, 266 sustained losses while the share price of 49 companies remained unchanged.