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PSX loses 137pts till midday

PSX loses 137pts till midday

KARACHI: The Pakistan Stock Exchange (PSX) remained bearish till midday as the benchmark 100-index lost 137 points to drop to 42636 level on Thursday.

The stocks started day on negative note and shed 58 points to reach 42714 level in early trading.

On Wednesday, the stocks managed to close in the positive zone with the benchmark KSE-100 index gaining 27 points to close at 42,771 points.

The benchmark index opened higher to peak at 43,061 points but lost points to trade within 200-point range for most part of the day.

In all, 131.33 million shares worth Rs5.5 billion were traded at the exchange. Of the 337 traded scrips, 163 advanced while 162 declined and 12 remained unchanged.

Topline Market Review noted that the market participation declined due to inconclusive meetings between the prime minister and the leader of the opposition on the caretaker prime minister issue. Commercial banks dominated trading by a margin with 30.8m shares traded.