KARACHI: The Pakistan Stock Exchange (PSX) Wednesday started day keeping previous day’s bearish trend and shed 201 points to reach 40409 points level in early trading.
On Tuesday, the stocks witnessed another uninspiring session as the benchmark KSE-100 index witnessed a sharp decline of 489 points or (1.2 percent) to settle at 40,611.
Index point losers were DAWH (down 4.9pc), LUCK (dip 3.1pc), SNGP (slip 3.9pc), KEL (down 6.9pc) & OGDC (slump 1.7pc) eroding 156 points; while BAHL (up 1.1pc), POL (gain 0.7pc), ABL (rose 4.9pc), FCCL (up 0.9pc) & SCBPL (gain 4.2pc) added 32 points.
Sector wise; fertiliser shed 89 points amid uncertainties over export deadline and looming penalty, cement shed 77.1 points as investors remained wary of the pricing pressure ahead due to supply addition, OMCs were down 71 points and power sector shed 57 points led by KEL and HUBC. Steel companies also declined, where ISL (down 2.24pc), INIL (dip 2.30pc), ASTL (slip 1.95pc) dipped the most. Participation expanded 49 percent from yesterday’s levels amid heavy turnover of 76.7 million shares in KEL (42 percent of total volumes) as participants were busy scouring through the 111 page document to best position themselves.
Scrips of total 386 active companies participated in the session of which 303 finished in decline, 64 in advance while 19 remained unchanged.
Traded volume stood at 184 million shares while traded value was up 6 percent, at Rs6.5 billion/$62 million.
