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PSX observes another volatile session to close in red zone

PSX observes another volatile session to close in red zone

KARACHI: The Karachi Stock Exchange benchmark 100-index lost 113.18 points to reach 30564.50 points and volume of 172,840,640 shares on Tuesday.

On Tuesday, until midday, KSE-100 Index was at 30690.17 with a positive change of 12.49 and volume of 33,178,100 shares.

On Monday, PSX resumed its downward trend as the index fell well below the barrier of 31,000. The bourse was down contrary to trend in regional markets where the Chinese Market closed up 2.20%. Global prices of crude oil were also on the raise with Brent Crude inched up above $34.

Year-to-date, foreigners have been net sellers of US$82mn, a significant number in a span of two months, observed Muhammad Rizwan Head of Sales Topline Securities. High and low were 30841.73 and 30275.61 respectively. Total volume traded in the market was 111,418,520 shares. Investors were surprised by the PSX bearish performance on Monday for it was quite in contrast with the major regional markets, most of which closed in the green.