PSX turns bearish as KSE-100 sheds over 800 points

KARACHI: The winning streak of the Pakistan Stock Exchange (PSX) ended on Tuesday as the benchmark KSE-100 shed over 800 points at the closing of the market, ARY News reported.

KSE-100 shed 802.56 points, or 0.69 percent to settle at 115,042.25 points, as compared with 115,844.82 points on the last trading day at the stock market.

A total of 767.27 million shares were traded during the day at the PSX, from the previous session’s 675.04 million shares.

The price of shares stood at Rs31.82 billion, as against Rs37.53 billion on the last trading day at the Pakistan Stock Exchange.

As many as 450 scrips were active in the stock market, out of which 135 recorded gains, 266 sustained losses while the share price of 49 companies remained unchanged.

An Analyst at Topline Securities said that the primary drivers behind the negative movement in the KSE-100 included MARI, HUBC, OGDC, LUCK, and PSO.

“Although news surrounding non-filers had an impact, we believe it affects only a small segment of non-filers participating in the stock market,” the analyst added.

Cnergyico PK remained the top trading company with 114.03 million shares at Rs7.29 per share, followed by Bank Makramah with 69.47 million shares at Rs.3.53 per share.

WorldCall Telecom remained the third with 64.22 million shares at Rs1.78 per share.

Hoechst Pakistan Limited was the top gainer, having increased by Rs121.84 per share to close at Rs3,108.52 while Rafhan Maize Products Company Limited was up by Rs94.94 to close at Rs9,194.94.

Unilever Pakistan Foods Limited witnessed a decline of Rs299.49 per share price, closing at Rs21,550.01, followed by Khyber Textile Mills Limited with Rs43.88 decline in its per share price to Rs526.08.