ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Tuesday as the benchmark KSE-100 Index shed 802.56 points.
At close, the index settled at 115,042.25 points with a negative change of 0.69%.
Overall 767,270,814 shares were entertained during the day as compared to 675,046,602 shares the last working day, whereas the price of shares stood at Rs31.825 billion against Rs. 37.533 billion on the previous trading day.
As many as 450 companies transacted their shares in the stock market,135 of them registered gains, and 266 met losses, whereas the share price of 49 companies remained unchanged.
The three top trading companies were Cnergyico PK with 114,034,653 shares at Rs 7.29 per share followed by Bank Makramah with 69,476,357 shares at Rs.3.53 per share whereas WorldCall Telecom settled with 64,227,770 shares at Rs.1.78 per share.
Hoechst Pakistan Limited witnessed a maximum increase of Rs121.84 per share closing at Rs 3,108.52 whereas Rafhan Maize Products Company Limited was the runner-up with Rs 94.94 rise in its share price to close at Rs.9,194.94.
Unilever Pakistan Foods Limited witnessed a maximum decline of Rs.299.49 per share price, closing at Rs 21,550.01, whereas the runner-up was Khyber Textile Mills Limited with a fall of Rs 43.88 in its per share price to Rs.526.08.
“We think that the market will continue to gain momentum hereon and would be up trending,” said Intermarket Securities in a note on Tuesday. “However, it would be led by flows mostly. Hence, we don’t see a big rally given the lack of triggers,” it added.
On Monday, the Pakistan Stock Exchange (PSX) ended on a positive note, driven by fresh buying primarily from local investors, and supported by institutional participation. The benchmark KSE-100 Index gained 572.73 points, or 0.5%, closing at 115,844.82 points.
Internationally, global equities and US Treasuries experienced volatility on Tuesday, reversing an earlier relief rally seen at the start of the session. The market reaction followed Donald Trump’s announcement of plans to impose trade tariffs on neighbouring countries during the initial hours of his presidency.