PSX turns bearish, KSE-100 loses 879 points

KARACHI: Following days of positive momentum, the Pakistan Stock Exchange (PSX) turned bearish on Thursday with its benchmark KSE-100 losing 100-index losing 879.55 points, a negative change of 0.56 percent.

The KSE-100 of the PSX closed at 156,141.25 points against 157,020.80 points on Wednesday, the last working day.

A total of 1,279,942,235 shares were traded during the day as compared to 996,270,293 shares the previous day, whereas the total value of shares traded was recorded at Rs50.207 billion against Rs52.727 billion a day earlier.

As many as 487 companies transacted their shares in the stock market; 225 recorded gains and 223 sustained losses, whereas the share prices of 39 remained unchanged.

The three top trading companies were Agha Steel Ind. with 113,014,099 shares at Rs9.77 per share, WorldCall Telecom with 85,629,403 shares at Rs1.59 per share, and K-Electric Ltd. with 69,821,482 shares at Rs5.54 per share.

PIA Holding Company LimitedB witnessed a maximum increase of Rs323.00 per share, closing at Rs25,989.00, followed by Khyber Textile Mills Limited with a rise of Rs151.20, closing at Rs1,671.36.

On the other hand, Nestle Pakistan Limited recorded a maximum decrease of Rs107.32 per share to close at Rs8,363.89, whereas Hoechst Pakistan Limited lost Rs95.58 per share, closing at Rs4,002.99.

In the future market, a total of 203,684,000 shares were traded, compared to 188,633,000 shares the previous day.

Out of 328 companies, 129 recorded gains, 194 sustained losses, while the share prices of 5 companies remained unchanged.