KARACHI - Bearish sentiments continued to persist at Pakistan Stock Exchange (PSX) on Thursday as the benchmark 100-share index shed another 359 points.

In the initial hours of the trading session, market showed a positive momentum, making an intra-day high of 669 points. However, profit booking in the latter hours took the index down to close at 45,060 points, dealers said.

The 100-index was dragged down by the likes of DAWH (down 4.8%), ENGRO (down 1.8%), HUBC (1.5%), UBL (1.2%) & BAHL (1.8%), which held back 139 points; while OGDC (up 1.6%), POL (1.2%), MCB (0.6%), BAFL (1.9%) & PMPK (up 4.4%) contributed 66 points to the green.

On the sector front, fertilizer shed 97 points, banks 56 points, cements 55 points, power 24 points & OMCs 23 points, while E&Ps added 25 points.

Stocks closed lower amid concerns over $12.1 billion current account deficit for fiscal 2017 and cautious activity ahead of the Supreme Court hearing over the joint investigation team probe, observed Ahsan Mehanti of Arif Habib Corporation.

Market participation slipped; volumes shed 11% to 148.1mn.sh, while traded value shed 3% to Rs8.6b/$82m.

Total 360 active companies participated in the session of which 243 concluded in red, 99 in green while 18 remained unchanged. Brokers expect the market to remain volatile unless there is a substantial trigger.