ISLAMABAD: The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Wednesday, losing 174.62 points, with a negative change of 0.37 per cent, closing at 46,716.72 points against 46,891.34 points on the last working day.

Investor sentiment was dampened by the currency’s decline as it signaled an increase in import payments, freight cost and inflation in the coming months.

The refinery sector received a battering owing to uncertainty about the refinery policy, which drew criticism in a meeting of the Cabinet Committee on Energy on Monday.

Earlier, trading began with minor ups and downs and selling pressure became visible soon afterwards. The KSE-100 index fell steadily but the decline accelerated later in the day.

A total of 332,788,304 shares were traded during the day compared to the trade of 479,793,999 shares the previous day whereas the price of shares stood at Rs11.439 billion against Rs15.042 billion the previous day.

As many as 518 companies’ transacted shares in the stock market, 161 of them recorded gain and 329 sustained losses whereas the share price of 28 companies remained unchanged.

The three top trading companies were TPL Corp Ltd with a volume of 29,622,500 shares and price per share of Rs22.99, Telecard Limited with a volume of 28,258,000 and price per share of Rs24.36 and Byco Petroleum with volume of 23,288,500 and price per share of Rs9.08.

Allawasaya Tex witnessed a maximum increase of Rs116.84 per share, closing at Rs 1674.93.

Wyeth Pak Ltd was runner up, share prices of which increased by Rs28, closing at Rs1678.

Bhanero Tex recorded a maximum decrease of Rs80 per share, closing at Rs1020 followed by Nestle Pakistan, the prices of which declined by Rs54.51 per share, closing at Rs6100.50.