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PSX loses mammoth 702pts to close at 43,229

PSX loses mammoth 702pts to close at 43,229

KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday witnessed a bearish day as the benchmark KSE-100 index lost 702 points to close at 43,229.

After opening lower, the index continued to slide throughout the session, hitting a day’s low of 43,143 towards close.

Around 138 million shares worth Rs5.97 billion were traded at the exchange, with 257 of the 324 traded scrips declining in value while only 48 advanced and 19 remained unchanged. The commercial banking sector dominated trading with 21.2m shares traded, while cement followed with 19.0m shares traded.

The Bank of Punjab was the volume leader with 11.45 million shares, losing Rs0.38 to close at Rs12.86. It was followed by Siddiqsons (R) with 10.8 million shares, losing Rs0.7 to close at Rs2.3 and Fauji cement with 9.9 million shares, losing Rs1.23 to close at Rs23.71.

Foreign institutional investors were net sellers of Rs171.3 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.