KARACHI: The Pakistan Stock Exchange (PSX) Tuesday opened keeping previous day’s bearish note and shed 186 points to reach 41298 points level in early trading.
Yesterday, the stocks kicked off trading week with bearish note, pulling down the benchmark KSE-100 index by 604 points or (down 1.44pc) to close at 41,483.54 points. During the intraday KSE-100 went low by 41,414.12 points and high by 42,162. The negative sentiment occurred due to profit taking by investors said.
Top 5 index point decliners were ENGRO (down 4.7pc), LUCK (slip 4.4pc), PPL (decline 2.7pc), OGDC (slump 2.1pc) & DGKC (dip 5pc), eroding 278 points while SNGPL (up 3.5pc), ASTL (gain 5pc), AICL (rose 1.9pc), EFOODS (up 3.9pc) and UBL (gain 0.2pc) added 46 points. EFOODS surprised investors as lower marketing expenses restricted the company’s decline in its net earnings which was down 68 percent YoY in 3Q2017. Sector wise; Cement sector eroded 161 points as investors booked profits in DGKC (down 5pc) and LUCK (slip 4.4pc) after last week’s gain while PIOC hit its lower limit on announcement of disappointed 1QFY18 result, E&Ps declined 125 points while Fertiliser was down 105 points led by ENGRO which took away 86 points from the sector, OMC’s added 19 points.
Volume leaders for the day were DSL, ANL, SNGP, EPCL and TRG which cumulatively contributed 39.0 percent to total volumes. Average market volumes were down by 41.3 percent DoD to 153 million shares, similarly average traded value was declined 38.1 percent at Rs8 billion/$76.3 million.
