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PSX goes bearish till midday

PSX goes bearish till midday

KARACHI: The Pakistan Stock Exchange became bearish till midday after losing 63 points to drop to 43290 level on Thursday.

The stocks started day on positive note and added 42 points to reach 43395 level in early trading.

On Wednesday, investors turned to profit-taking with benchmark index shedding 162 points, down 0.4 percent to 43,353 points level as market paid heeds to recent political developments.

Sector wise data indicates that Cement eroded 112 points from the index, followed by Oil & Gas Marketing and Fertilizer sectors that cumulatively took away 101 index points. Trading volumes improved by 2 percent whereas the trading session was up 3 percent.

Stocks including LUCK (-2.4 percent), DGKC (-4.2 percent), SEARL (-3.9 percent), SNGP (-2.9 percent) & PSO (-2 percent) withheld 129 points from the index whereas stocks including HBL (+3.4 percent), UBL (+1.8 percent), MCB (+0.2 percent), JLICL (+3.4 percent) & ABL (+0.9 percent) added 146 points to the index gain.