PSX loses over 600 points in early trading session
Business
PSX loses over 600 points in early trading session
LAHORE (Web Desk) – The Pakistan Stock Exchange (PSE) witnessed a considerable drop in the early trading session on Thursday as the KSE-100 Index lost more than 600 points, or 1.1 per cent, in quick manner around 11:10am.
Market experts are attributing the plunge to delays in the completion of the International Monetary Fund’s (IMF) s ninth review and mounting political uncertainty in the country.
On Wednesday, the 100-index gained 23.32 points, a slight positive change of 0.06 percent, closing at 41,737.62 against 41,714.30 points on the previous day.
A total of 146,710,701 shares were traded during the day as compared to 144,845,613 shares the previous day, whereas the price of shares stood at Rs 3.910 billion against Rs 3.756 billion on the last trading day.
As many as 332 companies transacted their shares in the stock market; 126 of them recorded gains and 186 sustained losses, whereas the share price of 20 companies remained unchanged.
The three top-trading companies were TPL Properties with 15,755,442 shares at Rs 19.70 per share, Unity Foods Ltd with 8,262,372 shares at Rs 16.02 per share and Dewan Motors with 7,975,500 shares at Rs 16.46 per share.
Bhanero Textile witnessed a maximum increase of Rs 74.10 per share price, closing at Rs 1063.00, whereas the runner-up was Pak Services with a Rs 67.24 rise in its per share price to Rs 1279.17.
Rafhan Maize witnessed a maximum decrease of Rs 240.01 per share closing at Rs 9060 followed by Nestle Pakistan with a Rs 149.99 decline to close at Rs 5500.01.
