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Stocks open negative, lose 194pts in early trading

Stocks open negative, lose 194pts in early trading

KARACHI: The Pakistan Stocks Exchanged (PSX) Wednesday opened bearish losing 194 points to drop to 45442 points level in early trading.

On Tuesday, the PSX rallied by 1,113 points (2.5%) and closed at 45,636 points with buying seen across all major sectors and sideboard items as well.

Top point contributors to the index were UBL (+3.4%), LUCK (+3.4%), OGDC (+3.4%), ENGRO (+3.3%), HUBC (+2.8%), PPL (+2.8%), SNGP (+4.9%), MCB (+2.3%), DAWH (+4.1%) & HBL (+0.9%); adding 495 points. While only 8 stocks closed lower eroding 13 points. On the sector front, banks added 228 points, cements 149 points, E&Ps 145 points, fertilizer 142 points; while chemical shed 2 points.

TRG from the technology sector led the volumes with 11 million shares being traded during the day. Participation improved from yesterday’s drought; volumes rose 110% to 158m shares, while traded value rose 115% to Rs9b/$85.4m.