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Home / Markets / PSX again sheds early gains, become flat till midday
PSX again sheds early gains, become flat till midday

PSX again sheds early gains, become flat till midday

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday again shed the early gains and became flat after shedding 3.48 points to reach 42740 points level till midday.

Earlier, the PSX opened bullish after gaining 211 points to take the tally to 42954 points level in early trading.

On Monday, the stocks witnessed a lacklustre session and the 100-share index, after making an intra-day high of 337 points and intra-day low of 122 points, closed at 42,744 points after shedding 6 points.

Top 5 index point decliners were NBP (down 5%), UBL (1.5%), MCB (0.9%), SNGP (1.6%) & CHCC (3.7%), shedding 97 points, while FFC (up 5%), EFERT (3.9%), DAWH (2%), OGDC (0.6%) & BAFL (2.3%) added 122 points.

On the sector front, fertilizer added 108 points due to rising international prices which are up another 16%/$40 WoW to $290/ton (Middle East Urea). On the flip side, banks shed 69 points (NBP 29 points, UBL 28 points & MCB 15 points). OMCs were down 20 points while cements withheld 17 points.

Market volumes also remained low as total volume for the all-share index touched 126m shares, 4.4% down from the last trading day. Traded value stood at Rs7b/$84m.