PSX continues with bearish trend as KSE-100 loses 809.63 points

KARACHI: The Pakistan Stock Exchange (PSX) continued with a bearish trend on Tuesday, as the KSE-100 index shed 809.63 points, ARY News reported.

The 100-Index shed 809.63 points, a negative change of 0.72 percent, closing at 111,935.38 points as compared to 112,745.01 points on the last trading day.

A total of 436 million shares were traded during the day as compared to 401 million shares the previous trading day, whereas the price of shares stood at Rs23.225 billion against Rs20.351 billion on the last trading day.

As many as 440 companies transacted their shares in the stock market, 129 of them recorded gains and 225 sustained losses, whereas the share price of 56 companies remained unchanged.

Analysts at Topline Securities attributed this negative trend to the local institutional selling.

They said, “The drop was largely driven by ENGOH, MTL, FFC, BAHL, and PPL, which together contributed 430 points to the loss. Despite the downturn, overall market activity remained strong, with 435 million shares traded and a total turnover of Rs. 23 billion. WTL topped the volume charts, with 54 million shares traded”.

Read More: Pakistan’s exports hit $19.551 bln during Jul-Jan

The three top trading companies were WorldCall Telecom with 54 million shares at Rs1.58 per share, Cnergyico PK with 21 million shares at Rs7.49 per share and K-Electric Limited with 20 million shares at Rs4.43 per share.

Sazgar Engineering Works Limited witnessed a maximum increase of Rs78.01 per share closing at Rs1,140.96 whereas runner-up was Bata Pakistan Limited with Rs28.54 rise in its share price to close at Rs1,968.16.

Rafhan Maize Products Company Limited witnessed a maximum decrease of Rs86.15 per share price, closing at Rs 9,397.18, whereas the runner-up was Sapphire Textile Mills Limited with Rs39.64 decline in its per share price to Rs1,165.68.

Meanwhile, Pakistan’s exports hit $19.551 bln during Jul-Jan. The exports from the country increased by 9.98 per cent during the first seven months of the current fiscal year as compared to the corresponding months of last year.

Exports during July-January (2024-25) were recorded at $19.551 billion against $17.777 billion during July-January (2023-24), according to Pakistan Bureau of Statistics (PBS) data.