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PSX sheds 171pts on first trading day after weekend

PSX sheds 171pts on first trading day after weekend

KARACHI: The Pakistan Stock Exchange benchmark KSE 100-share Index on Monday shed 170.72 points or 0.42% to settle at 40,684.05.

After opening positive, the KSE-100 index tumbled, hitting an intra-day low of 40,369.17 on concerns over the economy and the difficult decisions required to improve the situation.

Volumes stood low as most institutional investors waited for economic policy direction from the government.

Major participation was witnessed in retail plays including Unity Foods (+4.64%), Fauji Foods (+2.22%) and TRG Pakistan (+3.91%).

Hi-Tech Lubricants (-1.84%) announced its FY18 result where it declared earnings per share of Rs6.55 along with final cash dividend of Rs1.75.

Overall, trading volumes decreased to 112.6 million shares compared with Friday’s tally of 120.9 million. The value of shares traded during the day was Rs4.2 billion.

Shares of 357 companies were traded. At the end of the day, 133 stocks closed higher, 206 declined while 18 remained unchanged.

Unity Foods was the volume leader with 9.7 million shares, gaining Rs1.74 to close at Rs39.23. It was followed by Fauji Foods with 7.2 million shares, gaining Rs0.74 to close at Rs34.13 and TRG Pakistan with 5.6 million shares, gaining Rs1.10 to close at Rs29.26.