KSE-100 index sheds 130 points.

Karachi -- The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) declined by 130 points or ( -0.33%) to 38921 on Wednesday. Market opened on Wednesday on a positive note with an increase of 150pts and 3M shares traded at opening.

The momentum built in the initial phase with volumes touching close to 60M shares by 11:00 AM. However, selling pressure started settling in, that was caused by ongoing deliberations with FATF, where Pakistan is at the risk of classifying blacklisted.

Early in the session, E and P stocks increased significantly on the back of higher crude oil prices. Index oscillated by 450pts during the day with +215pts and -236pts. Highest volumes were observed in PAEL and UNITY, which saw volumes of 25M and 11.6M respectively. Cement sector followed cables and electrical goods sector.

The Index closed at 38,922pts as against 39,052pts showing a decline of 131pts (-0.3% DoD). Sectors...