PSX loses 60 points to close at 70,483.66 points

KARACHI: The KSE-100 index of Pakistan Stock Exchange (PSX) on Tuesday lost 60.92 points, a slight negative change of 0.09 percent, closed at 70,483.66 points, ARY News reported.

Some 548,418,295 shares valuing Rs.21.032 billion were traded during the day as compared to 555,214,972 shares the last day.

The shares of 369 companies were traded in the stock market with 175 of them recorded gains and 168 sustained losses, whereas the share prices of 26 remained unchanged.

A day earlier, PSX continued its record-breaking streak as the KSE-100 index closed at its highest ever level of 70,544 points.

During intra-day trading, the stocks gained 229 points to reach 70,544 points for the first time in history of Pakistan as investors remained buoyant amid hopes of investment from Saudi Arabia.

Meanwhile, a high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah will land in Pakistan today on a two-day official visit, from April 15 to 16.

The development came after Crown Prince Mohammed bin Salman Al Saud, during a recent meeting with Prime Minister Shehbaz Sharif, reaffirmed that Riyadh would never leave Islamabad alone.

The delegation consists of Saudi Minister of Water and Agriculture, Eng Abdul Rahman Abdul Mohsen Al-Fadley, Minister of Industry and Mineral Resources, Bandar Ibrahim AlKhorayef, Deputy Minister of Investment, Badr AlBadr, Head of Saudi Special Committee, Mohammad Mazyed Al Towaijri, and senior officials from Ministry of Energy and Saudi Fund for General Investments.

The Saudi delegation is expected to hold meetings with the President, the Prime Minister, the Foreign Minister and counterpart Ministers, the Chief of Army Staff and Apex Committee of SIFC.