Topline Securities, in its report, stated that the KSE-100 index remained under pressure, declining by 547 points or 1.31% to close at 41,358.

'A missile attack from Iran at US base camps in Iraq increased tensions between the two countries, which weighed negatively on investors' mind,' it said.

Among individual companies, HBL contributed the most to the decline in the KSE-100 index with 104 points, followed by Pakistan Petroleum (49 points), Hubco (42 points), Fauji Fertiliser (37 points) and NBP (19 points).

Investor participation in terms of volume was up 35% day-on-day at 280 million shares, led by K-Electric (39 million). Traded value was up 27% day-on-day at Rs11.69 billion, the report added.

Overall, trading volumes rose to 280.1 million shares compared with Tuesday's tally of 206.9 million. The value of shares traded during the day was Rs11.7 billion.

Shares of 353 companies were traded. At the end of the day, 42 stocks closed higher, 292 declined and 19 remained unchanged.

K-Electric was the volume leader with 39.5 million shares, losing Rs0.15 to close at Rs4.43. It was followed by The Bank of Punjab with 38.2 million shares, gaining Rs0.07 to close at Rs11.81 and TRG Pakistan with 11.6 million shares, losing Re1 to close at Rs26.59.

Foreign institutional investors were net sellers of Rs106 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.

© Pakistan Press International, source Asianet-Pakistan