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PSX loses 312pts in sixth consecutive bearish session

PSX loses 312pts in sixth consecutive bearish session

KARACHI: The Pakistan Stock Exchange (PSX) continued in the red for the sixth consecutive session, with the benchmark KSE-100 Index losing 312 points to close at 44,067 points on Tuesday.

Aside from an early spike which saw the index touch the day’s high of 44,440 points, the index traded in the negative for most part of the day.

Volumes remained dull with only 153.5 million shares worth Rs6.7 billion traded. Stocks of 356 companies were traded at the exchange, of which 83 advanced, 252 declined and 21 remained unchanged. Commercial banks dominated trading with 22.3m shares traded, while the chemicals sector followed with 18.7m shares.

On Monday, the stocks continued in the red with the benchmark KSE-100 Index losing 158 points to close at 44,379 despite a positive opening.

The index touched the day’s high of 44,763 points after a positive start, but the bears returned to pull the index down to a day’s low of 44,322 points towards close.

Over 130.5 million shares worth Rs5.6 billion were traded as 123 of 372 traded scrips advanced, while 226 declined and 23 remained unchanged. The investment banking sector dominated trading with 17.8m shares traded, while vanaspati and allied industries followed with 13.5m shares traded.