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Home / Markets / PSX witnesses worst-ever day, sheds 2,153pts over political uncertainty
PSX witnesses worst-ever day, sheds 2,153pts over political uncertainty

PSX witnesses worst-ever day, sheds 2,153pts over political uncertainty

KARACHI: The Pakistan Stocks Exchanged (PSX) Tuesday crashed on prevailing political uncertainty in the country as JIT recommended NAB to file reference against Sharif family.

The PSX benchmark 100-index shed record 2153.23 points or 4.65 per cent to drop to 44120.58 points level at closing.

The stocks recorded the highest trading level of 46273.81 points and lowest level of 44117.17 points, with the volume of about 185.16 million shares and value of Rs9.89 billion. As many as 368 companies were active; of which 24 advanced, 334 declined and 10 remained unchanged.

K-Electric Ltd was the volume leader with 17.40 million shares, shedding Rs0.39 to reach Rs6.44. It was followed by TRG Pak Ltd with 9.68 million shares, losing sRs1.88 to end at Rs35.84 and Aisha Steel Mill with 9.30 million shares, dropping Rs1.02 to close at Rs19.49.

The top three gainers were Colgate Palmolive with price per share of 2340 (40), AL-Abbas Sugar with price per share of 204.90 (8.90) and Artistic Denim of 80.60 (3.76).

The top three losers were Bata (Pak) with price per share of 3173 (-167), Wyeth Pak Ltd with price per share of 2028.53 (-103.47) and Sanofi-Aventis share of 1643.50 (-86.50).

Earlier, the stocks opened bearish as the benchmark 100-index dropped 1305 points in early trading to reach 44969 points level. The PSX dropped 2088.24 points to reach 44185.57 points level till midday.

On Monday, the PSX bounced back on first trading day as the buyers catapulted the index up 1,052 points or 2.3 percent. Top 10 Index point leaders were LUCK (+3.8pc), ENGRO (+3.6pc), PPL (+4.2pc), MCB (+3.4pc), HBL (+1.7pc), HUBC (+2.5pc), SNGP (+5pc), DGKC (+3.8pc), PSO (+3.6pc) and NML (+4.6pc) adding 502 points, while only 7 KSE-100 index scripts closed in the red.

JIT brought all the boys to the yard; volumes shot 78 percent to 235.3 million shares, while traded value soared 84 percent to Rs12.8 billion. The BOP was the volume leader with 21m shares of the commercial bank changed hands.