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PSX goes bearish after shedding 147pts till midday
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PSX goes bearish after shedding 147pts till midday

KARACHI: The Pakistan Stock Exchange (PSX) again become bearish and shed 147 points till midday to drop to 41093 level on Tuesday.

Earlier, the stocks recouped some losses in early trading after adding 76 points to reach 41316 level.

Yesterday the bearish trend continued at the PSX on Monday as market witnessed thin volumes during the trading session. The benchmark KSE 100-index went down by 196 points and closed at 41,240 points.

Stocks including PPL (down 1.4%), DAWH (3.1%), HUBC (1.3%), UBL (1.1%) & MARI (1.6%) withheld 105 points from the index whereas MCB (up 1.2%), TRG (5%), OGDC (0.7%), SHFA (5%) & FATIMA (1.7%) added 52 points to the index.

Sector-wise; oil & gas exploration and fertilizer sectors contributed 40 and 34 points to index decline respectively, whereas technology & communication sectors added 10 points to the index.

Selling pressure was seen in the cement sector where MLCF (down 2.90%), CHCC (2.39%), FCCL (1.21%) and DGKC (0.84%) lost value to close in red. Scrips of total 357 active companies traded in the session of which 117 closed in advance, 214 in decline while 26 remained unchanged. Traded volume was down 32% to 87m shares whereas traded value declined to Rs3.7b/ $35.5m (down 35%).