LAHORE - The bearish trend continued at the Pakistan Stock Exchange (PSX) on Thursday as 100-share index declined by 295 points with fertiliser sector snatching the highest points from index (-196 points) after ECC’s comment to collect Rs10b windfall from fertilizer industry. Further ECC also depicted displeasure over recent surge of Rs200/bag in urea prices. As a result, investors’ confidence shattered and dragged the stock market to close at 41,863, losing 386 points.

Small cap stocks continued to draw market participant’s attention, where NRSL and LOTCHEM topped volume leaders’ chart with cumulative volume of 36m shares. This led to higher volumetric activity in yesterday's session where volumes were up by 42% to 191.5m shares while trading value was up by 44% to $67m. Similarly,

NBP closed positive after posting tremendous growth of 73% YoY in its quarterly earnings. Newly listed stock PREMA closed near to its upper cap at Rs33.01, where this has returned around 57% in just one month of its listing. Experts said that Prime Minister Imran Khan has directed the Commerce Division to work out a comprehensive strategy to check corrupt practices of illegal money transfers and smuggling which are negatively affecting the country’s economy. Moreover, the World Bank has said it was ready to support the reform plans of the new Pakistan government for stabilizing the economy.