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Home / Markets / Stocks open negative, shed 228pts in early trading
Stocks open negative, shed 228pts in early trading

Stocks open negative, shed 228pts in early trading

KARACHI: The Pakistan Stock Exchange Tuesday opened negative and shed 228 points to drop to 48811 points level in early trading.

On Monday, the stocks closed flat amid last session profit-taking in oil, textile and banking sectors. Opened on a positive note, the index rallied to make an intraday high of 49,439 but came under selling during latter hours, however the index closed in green gaining 1.18 points.

OGDC (down 1.19%) and PPL (0.67%) were the major index movers from the aforementioned sector. Top contribution to the index came from UBL (higher 0.61%) and MCB (1.02%) whereas HBL (slump 0.76%) and LUCK (0.54%) weighed down on the index. Overall, volumes increased by 14.4 percent to 492 million shares, while value remained flat at Rs20.8 billion/$200 million. DSL (slipped 0.77%) was volume leader as more than 33 million shares of the scrip exchanged hands.