PSX witnesses bearish trend, loses 78 points

KARACHI: The Pakistan Stock Exchange (PSX) turned bearish as the KSE-100 index shed 78 points, ARY News reported.

The 100-Index loses 78.02 points on Thursday, a negative change of 0.07 percent, closing at 113,784.31 points as compared to 113,862.33 points on the last trading day.

A total of 397.393 million shares were traded during the day as compared to 640.17 million shares the previous trading day, whereas the price of shares stood at Rs19.327 billion against Rs22.740 billion on the last trading day.

Analysts at Topline Securities said that overall market activity was robust however investor sentiment remained mixed due to a lack of market-moving triggers.

As many as 454 companies transacted their shares in the stock market,145 of them recorded gains and 253 sustained losses, whereas the share price of 56 companies remained unchanged.

The three top trading companies were Cnergyico PK with 71.83 million shares at Rs7.81 per share, WorldCall Telecom with 20.251 million shares at Rs1.45 per share and At-Tahur Limited with 17.624 million shares at Rs32.84 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs75.02 per share closing at Rs23,399.99 whereas runner-up was PIA Holding Company LimitedB with Rs30.75 rise in its share price to close at Rs884.29.

Hoechst Pakistan Limited witnessed a maximum decrease of Rs184.68 per share price, closing at Rs3002.79, whereas the runner-up was Ismail Industries Limited with Rs44.52 decline in its per share price to Rs1,890.40.

Meanwhile, the Ministry of Finance has apprehended prospects of slight increase in inflation to 3.0-4.0pc in March before Eid ul Fitr.

The ministry in its monthly economic outlook report today, said that the consumer price index (CPI) inflation would remain stable in current month of February.

“Inflation is anticipated to remain within the range of two to three per cent in February 2025,” the report said. However, there are prospects of slight hike to three to four percent by March,” the report said.

Inflation has eased since last year with CPI coming in at 2.4% in January compared to 24% in the same month last year.