PSX turns bearish, KSE-100 sheds over 1,300 points

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed in a red zone after shedding over 1,300 points on Tuesday, ARY News reported.

KSE-100 shed 1,308.72 points, or 1.13 percent to settle at 114,860.69 points, from 116,169.41 points on the last trading day at the stock market.

A total of 1.25 billion shares were traded during the day at the PSX, as compared with the turnover of 1.47 billion the previous trading day

The price of shares stood at Rs62.72 billion as against Rs66.62 billion on the last trading day at the stock market.

Market experts said that the KSE-100 displayed a mixed trend, reaching an intra-day high of 117,039.17 points before profit-taking pulled it down to an intra-day low of 113,688.54 points.

Selling pressure was witnessed in major sectors such as oil and gas exploration, oil marketing companies (OMCs), power generation, fertilizers, cement, chemicals, and automobile assemblers.

As many as 470 scrips were active in the Pakistan Stock Exchange, out of which, 134 recorded gains and 297 sustained losses while the share price of 39 companies remained unchanged.

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WorldCall Telecom remained the top-trading company with 151.92 million shares at Rs1.88 per share, followed by Pak Elektron with 107.5 million shares at Rs 38.11 per share.

Cnergyico PK remained the third with 58.28 million shares at Rs7.08 per share at the closing of the Pakistan Stock Exchange.

Unilever Pakistan Foods Limited remained the top gainer with an increase of Rs180.02 per share price, closing at Rs21,000.02, followed by Philip Morris (Pakistan) Limited with an Rs29.78 rise in its per share price to Rs789.88

On the flip side, Mari Petroleum Company Limited witnessed a decline of Rs89.97 per share closing at Rs809.76, followed by Nestle Pakistan Limited with a Rs74.88 decline to close at Rs7,511.48.