KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday landed in the red after a volatile session, with the benchmark KSE-100 index losing 163 points to close at 45,255.
Concerns arising from delays in an International Monetary Fund (IMF) decision on Pakistan’s loan programme and depreciating rupee against the US dollar shattered investors’ confidence. Widespread uncertainty about economic recovery exacerbated the market’s decline.
The benchmark touched the day’s high at 45,516.77 points but failed to sustain the bullish momentum. It went on to touch a low of 45,213.62 points during intra-day. At close, KSE-100 index slipped 0.36% to touch 45,255.97 points by the end of today’s session.
Technology, E&P and Banking sector’ stocks seen some profit taking where TRG, MARI, HBL, UBL, PPL & OGDC cumulatively lost 182 points while, SYS, MEBL & HUBC provided some support by contributing 86 points positively. During the day, all shares volumes and values stood at 162.97 million shares and Rs5.7 billion, respectively.
Hum Network Limited was the volume leader with 24.9 million shares, gaining Rs0.14 to close at Rs6.84. It was followed by Ghani Global Holdings with 8.4 million shares, gaining Rs0.25 to close at Rs29.9, and Lotte Chemical Pakistan with 8 million shares, gaining Rs0.04 to close at Rs15.42.
