KARACHI: The Pakistan Stock Exchange Tuesday opened bearish 175.47 points to further drop to 48753.65 points level in early trading.
On Monday, the stocks closed negative amid pressure in energy and fertiliser stocks post major earning announcements at PSX, the benchmark shares index closed down 446.59 points or (0.9 percent).
Volatility prevailed in the market during the first half of the trading session; whereas heavy profit taking was witnessed in the market during the second half of the day as the index lost 447 points to close at 48,929 level, brokers said. Banking sector, however, closed higher, as the sector heavy weights HBL (rose 1.2 percent) and UBL (1.5 percent) gained to close in the green zone.
Profit taking to some extent was witnessed in the cement sector, as sector heavyweights DGKC (slip 2.0 percent), MLCF (2.7 percent), LUCK (0.3 percent) and POWER (5.0 percent) lost value to close in the red zone. Overall, volumes decreased by 7.8 percent to 344 million shares, while traded value declined by 27.5 percent Rs14.7 billion.
