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Home / Markets / PSX remains bearish till midday, sheds 80pts
PSX remains bearish till midday, sheds 80pts

PSX remains bearish till midday, sheds 80pts

KARACHI: The Pakistan Stocks Exchange (PSX) remained bearish till midday after witnessing some fluctuation in trading and shed 80 points to drop to 49885.75 points level on Tuesday.

Earlier, the stocks opened with negative sentiments over Lahore blast, which claimed at least 13 lives including top police officials. The benchmark 100-index shed 90.12 points to reach 49875.51 points level in early trading.

On Monday, the positivity prevailed at PSX for most part of the first trading day as the index gained to make an intraday high of 397 points but pressure was witnessed in the market during the latter hours as index fell to close on a flat note by gaining around 40 points (up 0.08%).

ISL, INIL and ASL were among the major losers of the aforementioned sector, as they lost value to close on their respective lower circuits. OGDC (rose 1.15%), POL (1.58%) and PPL (0.54%) in the E&P sector gained to close in the green zone, as crude oil surged to trade comfortably above $53.5/bbl for most part of the day. Dost Steels was the volume leader with 32 million traded shares. Overall, volumes increased by 2.2 percent to 362 million shares, while traded value rose by 8.6 percent to Rs18.8 billion.