KARACHI: The Pakistan Stock Exchange (PSX) Tuesday again started day on negative note as the benchmark 100-index shed 54 points to reach 48626 points level in early trading.
On Monday, the stocks started the week on a negative note, as the benchmark shares index traded between an intraday high of 78 points and intraday low of 338 points, where it closed at 48,680 level, declining by 291 points or (0.60%). SEARLE, PSO and PPL contributed 64 points to the index fall, brokers said.
E&P sector lost value to close in the red zone on the back of international oil prices falling further towards $50.48/barrel, pressured by uncertainty over whether an OPEC-led production cut will be extended beyond June. POL (decline 1.86%) and PPL (1.32%) were the major laggard of the aforementioned sector. Overall, negative sentiments were witnessed in the banking sector as sector heavy weights lost value to close in the red zone. Volumes stood low at 238 million shares versus 353 million shares traded in the last session, while value decreased by 8 percent at Rs10.4 billion.
