KARACHI: The Pakistan Stock Exchange Tuesday recouped some early losses but remained bearish till midday and lost 155.33 points to reach 40696.70 points level.
Earlier, the stocks opened bearish as the benchmark 100-index shed massive 506.92 points in early trading to drop to 40345.11 points level.
On Monday, the PSX plunged by 439 points (1.06%) and closed at 40,852 points. On sector basis, the highest decline was seen in the banking sector, which contributed 89 points to the decline in the index. Upbeat result by Pakistan State Oil (PSO) failed to excite investors as the stock witnessed 0.6% decline to close at Rs413/share, whereas, below expectations result of Pak Electron led the stock to close at its lower limit.
High Tech Lubricants (HTL) rose to its upper limit during yesterday’s trading session, to close at 2.8% following news that it has been granted an Oil Marketing Company (OMC) license, said dealers at Topline brokerage. Bank of Punjab (BOP) emerged as volume leader with turnover of 35.2m shares. However, the stock fell 5.3%. Overall, volumes fell by 48% to 278m shares, while value declined by 42% to Rs9.5b/$90.7m.
