KARACHI: The stock market Tuesday opened negative after a long bullish spree and shed 78.84 points to drop to 46859.75 points level in early trading.
On Monday, the Pakistan Stock Exchange secured new record as the 100-share index gained 354 points to close at new all-time high of 46,939 points. Overall, volumes decreased by 0.6% to 344m shares, while value remained flat at Rs19.5b/$185m.
BOP was volume leader with 30m shares traded, where it gained to close up 4.76. Global oil prices rose which led the local oil stocks like POL and PPL to gain between 1.9%-3%. Last week’s news of Pak Suzuki Motor saying that the company was ready to invest $460 million in Pakistan to set up a second plant led the stock price to gain by 5%.
