A man standing in front of a stock board. — AFP/File

PSX continues downward trend loses over 200 points

by Pakistan News
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A man standing in front of a stock board. — AFP/File 

KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday continued its downward trend with a loss of over 200 points.

The stock market opened in the green, however, it later succumbed to selling pressure as the bears staged a comeback following Pakistan rupee’s depreciation against the US dollar.

At close, the benchmark KSE-100 index closed at 41,102.57 points with a loss of 245.62 points or 0.59%.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal
Benchmark KSE-100 index intra-day trading curve. — PSX data portal

According to Arif Habib, the investor’s participation stayed lackluster over concerns about the resumption of the International Monetary Fund (IMF) programme.

The volumes remained dry on the main board whereas decent volumes were witnessed in the third-tier stocks.

The sectors contributing to the performance include banks (-80.5 points), cement (-50.4 points), fertiliser (-35.9 points), exploration and production (-17.5 points) and tobacco (-15.6 points).

Shares of 321 companies were traded during the session. At the close of trading, 119 scrips closed in the green, 176 in the red, and 26 remained unchanged.

Overall trading volumes dropped to 76.89 million shares compared with Monday’s tally of 86.61 million. The value of shares traded during the day was Rs2.39 billion.

Maple Leaf Cement Factory Limited was the volume leader with 6.53 million shares traded, losing Rs1.39 to close at Rs25.44. It was followed by Worldcall Telecom Limited with 4.79 million shares traded, gaining Rs0.02 to close at Rs1.37 and Fauji Cement Company Limited with 4.43 million shares traded, losing Rs0.50 to close at Rs13.47.

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