KARACHI: The bearish note opened the trading day at the Pakistan Stock Exchange as the benchmark lost 138.25 points in early trading on Tuesday.
On Monday, profit-taking continued at PSX amid concerns for foreign outflows, higher inflation and rising circular debt in the energy sector due to which benchmark index lost 188.91 points. The market witnessed positive momentum for most part of the day as the index gained to make an intraday high of 217 points but came under selling pressure at the eleventh hour where index lost 189 points to close at 49,434.89 level.
Mixed sentiments were witnessed in banking sector as index heavy weights MCB (rose 0.93) and UBL (0.14%) gained to close in the green zone, whereas on the flipside HBL (slip 0.42%) and NBP (0.89%) weighed down on the index. Overall, volumes declined by 23 percent to 302 million shares, while value declined by 44.1 percent to Rs9.6 billion.
