KARACHI: Pakistan Stock Exchange (PSX) declined for the second consecutive day on Tuesday as bears took control of stock market over lack of positive triggers.
The stock market surged in early trading and reached its highest level of 46,746.27 points, the highest in six months. However, the bourse witnessed a quick reversal in later day trading amid uncertainty in the exchange rate as the Rupee weakened by 1.9 rupees against USD.
The KSE-100 eventually dropped by 206.23 (-0.44%) and closed at 46,333.36 points. The total volume of shares were 114.626 million valued at Rs6.8 billion. The lower bench KSE-30 index dropped by 80.02 points (-0.45%) and closed at 17,862.70 points. The total volume of shares was 97.781 million.
The KMI 30 index declined by 423.82 points (-0.56%) and closed at 75,869.47 points, while the All Share Index also decreased by 166.94 points (-0.53%) and closed at 31,437.91 points. The total volume of share traded were 228.556 million at the stock market.
Of the 95 traded companies in the KSE100 Index, 24 closed up 66 closed down, while 5 remained unchanged. Sectors propping up the index were Fertilizer with 125 points, Chemical with 52 points, Inv. Banks / Inv. Cos. / Securities Cos. with 15 points, Insurance with 2 points and Modarabas with 2 points.
Sector wise, the index was let down by Commercial Banks with 89 points, Oil & Gas Exploration Companies with 72 points, Technology & Communication with 51 points, Power Generation & Distribution with 43 points and Cement with 37 points.
The highest number of shares traded belonged to Cnergyico PK Ltd, (CNERGY -5.39%) which traded 18.326 million shares. This was followed by Ghani Global Holdings Ltd (GGL -6.70%), WorldCall Ltd (WTL -2.70%), and Telecard Ltd (TELE -0.60%). The number of scrips traded were 18.029 million, 11.547 million, and 10.870 million, respectively.
Total companies traded were 345 compared to 336 from the previous session. Of the scrips traded 94 closed up, 226 closed down while 25 remained unchanged.
