Business
Stocks slide sharply at Pakistan stock exchange – SUCH TV
After days of buying momentum, selling returned to the Pakistan Stock Exchange on Tuesday, with the benchmark KSE-100 Index diving by 1,700 points during the opening hours of the trading.
After days of buying momentum, selling returned to the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index diving by 1,700 points during the opening hours of the trading
At 12:00 noon, the benchmark index was hovering at 159,894.96, down 1,643.44 points, or minus 1.03 percent.
Out of 454 active companies, 133 advanced, 309 declined, and 12 remained unchanged.
Selling pressure was witnessed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and refinery. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, PSO, MCB, MEBL, and NBP, traded in the red.Earlier on Monday, the Pakistan Stock Exchange (PSX) closed on a positive note as the benchmark KSE-100 index gained 1,945.50 points, a positive change of 1.22 percent, settling at 61,538.41.
According to PSX data, the ready market recorded a turnover of 783.287 million shares as compared to 768.833 million shares traded earlier, while the traded value increased to Rs 36.372 billion from Rs 30.735 billion. The market capitalization also rose to Rs 18.471 trillion from Rs 18.286 trillion.
F. Nat. Equities led the volume chart with 73.709 million shares, followed by Kohinoor Spinning with 54.808 million shares and Bank Makramah with 49.120 million shares.
Unilever Pakistan Foods Limited stood among the top gainers as its share price increased by Rs 360.13 to close at Rs 28,999.99, while Exide Pakistan Limited gained Rs 59.32 to close at Rs 652.51.
The major losers included PIA Holding Company Limited-B, which fell by Rs 1,507.77 to close at Rs 23,380.18, and Pakistan Services Limited, which declined by Rs 89.45 to settle at Rs 1,374.30.