Full-day report: KSE-100 Index loses 600 points in intraday trading

The Pakistan Stock Exchange ended Tuesday’s trading session on a negative note, with the benchmark KSE-100 index losing 611.48 points, or 1.24 per cent, by the close of the trading session to reach 48,689.42.

Volumes were led by cement company stocks as the market shed points amidst lower than average trading activity.

“Stocks closed sharply lower on profit-taking post major earnings announcements for the quarter on investor concerns over the civil-military row on the news leaks inquiry report,” said Arif Habib Corp analyst Ahsan Mehanti.

“Support was witnessed in banking stocks on strong earnings outlook. IMF warnings over debt service burden, rising import bill and falling global crude prices played a catalyst role in the major fall at PSX,” he added.

88 million shares of KSE-100 companies changed hands in the session, with a total worth of nearly Rs8.06 billion.

Stocks of 372 companies were traded, of which 86 gained in value, 271 declined and 15 remained unchanged.

Volumes were led by:

  1. Pak International Bulk: 17.3m shares traded [+4.79pc];

  2. Aisha Steel Mill: 13.1m shares traded [-1.42pc];

  3. Pak ElektronXD: 12.5m shares traded [-4.99pc];

  4. Engro Polymer: 11.5m shares traded [-1.35pc]; and,

  5. Power Cement Ltd: 8.76m shares traded [-4.99pc].

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