PSX turns bearish, loses more than 200 pts

KARACHI: The KSE 100-Index of the Pakistan Stock Exchange (PSX) on Thursday witnessed a bearish trend, losing 216.06 points, a negative change of 0.25 percent before closing at 85,453.22 points against 85,669.28 points on the last trading day, ARY News reported.

During the day, a total of 503,750,595 shares were traded as compared to 596,052,076 shares the previous trading day, whereas the price of shares stood at Rs 27.912 billion against Rs. 31.341 billion against the last trading day.

As many as 313 companies transacted their shares in the stock market, 115 of them recorded gains and 189 sustained losses, whereas the share price of 9 companies remained unchanged.

A day earlier, the benchmark KSE-100 Index of the PSX closed slightly up after breaching the 86,000-point mark in early trade.

The KSE-100 index closed at 85,669.28, up 5.3 points or 0.01% from the previous day’s closing of 85,663.98 points.

The local bourse opened on a strong note and surged to a high of 86,451.43 points in midday trading before settling at 85,669.28 due to profit-taking.

An analyst at Topline Securities said that the session experienced significant volatility, peaking at 86,451 and dipping to 85,444, largely due to profit-taking and the KSE-100 Index’s inability to sustain levels above 86,000.