PSX continues bearish trend, loses 1505 points

KARACHI: The Pakistan Stock Exchange (PSX) continued its downward trajectory for the second straight day on Wednesday as its benchmark KSE 100-Index shed 1,505.11 points, reflecting a 1.23 percent decline.

The KSE-100 index of the PSX closed at 120,465.93 points, down from 121,971.04 points recorded at the end of the previous trading day. The downturn signals cautious investor sentiment amid ongoing economic developments, with market analysts closely monitoring key indicators for future trends.

The price of shares was Rs 21.273 billion, down from Rs 27.983 billion on the previous trading day, while a total of 707,300,056 shares were exchanged throughout the day, compared to 1,152,012,654 shares the day before.

Of the 470 firms that traded their shares on the stock exchange, 102 saw profits and 327 saw losses, while 41 companies’ share prices stayed the same.

Pervez Ahmed Co., with 41,067,952 shares at Rs 3.15 per share, Prud Mod. 1st., with 51,711,290 shares at Rs 4.61 per share, and WorldCall Telecom, with 110,905,125 shares at Rs 1.50 per share, were the top three trading businesses.

Macter International Limited witnessed a maximum increase of Rs 46.72 per share closing at Rs513.90 whereas runner-up was Hinopak Motors Limited with Rs41.00 rise in its share price to close at Rs451.03.

PIA Holding Company LimitedB witnessed a maximum decrease of Rs 1,530.02 per share price, closing at Rs 13,770.15, whereas the runner-up Unilever Pakistan Foods Limited with Rs 211.00 decline in its per share price to Rs 22,989.00.