KARACHI: The Pakistan Inventory Alternate (PSX) continued with a bearish development on Tuesday, because the KSE-100 index shed 809.63 factors, ARY Information reported.
The 100-Index shed 809.63 factors, a unfavorable change of 0.72 p.c, closing at 111,935.38 factors as in comparison with 112,745.01 factors on the final buying and selling day.
A complete of 436 million shares had been traded in the course of the day as in comparison with 401 million shares the earlier buying and selling day, whereas the value of shares stood at Rs23.225 billion towards Rs20.351 billion on the final buying and selling day.
As many as 440 corporations transacted their shares within the inventory market, 129 of them recorded good points and 225 sustained losses, whereas the share worth of 56 corporations remained unchanged.
Analysts at Topline Securities attributed this unfavorable development to the native institutional promoting.
They mentioned, “The drop was largely pushed by ENGOH, MTL, FFC, BAHL, and PPL, which collectively contributed 430 factors to the loss. Regardless of the downturn, total market exercise remained sturdy, with 435 million shares traded and a complete turnover of Rs. 23 billion. WTL topped the quantity charts, with 54 million shares traded”.
Learn Extra: Pakistan’s exports hit $19.551 bln throughout Jul-Jan
The three high buying and selling corporations had been WorldCall Telecom with 54 million shares at Rs1.58 per share, Cnergyico PK with 21 million shares at Rs7.49 per share and Okay-Electrical Restricted with 20 million shares at Rs4.43 per share.
Sazgar Engineering Works Restricted witnessed a most enhance of Rs78.01 per share closing at Rs1,140.96 whereas runner-up was Bata Pakistan Restricted with Rs28.54 rise in its share worth to shut at Rs1,968.16.
Rafhan Maize Merchandise Firm Restricted witnessed a most lower of Rs86.15 per share worth, closing at Rs 9,397.18, whereas the runner-up was Sapphire Textile Mills Restricted with Rs39.64 decline in its per share worth to Rs1,165.68.
In the meantime, Pakistan’s exports hit $19.551 bln throughout Jul-Jan. The exports from the nation elevated by 9.98 per cent in the course of the first seven months of the present fiscal 12 months as in comparison with the corresponding months of final 12 months.
Exports throughout July-January (2024-25) had been recorded at $19.551 billion towards $17.777 billion throughout July-January (2023-24), in line with Pakistan Bureau of Statistics (PBS) knowledge.