Meltdown on PSX; index plunges 417 points
A total of 334,078,050 shares were traded during the previous day.
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) on Tuesday witnessed bearish trend as KSE-100 index closed at 37,795 points with decline of 417.23 points (1.12%).
A total of 334,078,050 shares were traded during the previous day, whereas the value of shares traded during the day stood at Rs15.5 billion.
Total 351 companies transacted shares in the Stock Market, out of which 123 recorded gain and 217 sustained losses whereas the share price of 11 companies remained unchanged.
The three top trading companies were UNITY with a volume of 58,079,000 shares and price per share of Rs12.94, FFL with a volume of 33,925,000 and price per share of Rs13.31 and PAEL with a volume of 29,634,000 and price per share of Rs25.27.
On Friday at close, the index recorded an increase of 824.48 points, or 2.22%. Overall, trading volumes increased to 243 million shares compared with Thursday’s tally of 232.6 million. The value of shares traded during the day was Rs8.1 billion.
With the continuous positive momentum throughout the week, the bulls rule the KSE-100 and cumulatively the index went up and by the close of market, it managed to inch closer to the 38,000-point mark, according to the week-long PSX trading data.
Over the course of the week, foreign investors bought shares worth USD 8.4 million, which in turn contributed to the total volume of shares amounting to Rs33 billion.
Yesterday, Advisor to the Prime Minister on Finance Abdul Hafeez Sheikh remarked that foreign investment in the country has risen by 200 percent.
