KARACHI: The Pakistan Stock Exchange (PSX) Thursday opened keeping previous day’s bearish note and lost 10 paisas to reach 51500.96 points level in early trading.
On Wednesday, the PSX declined by 302 points as investors continued to book gains in heavy weight stocks which rallied considerably in the run up to MSCI review.
Top drags on the index were MCB (down 3.5%), HBL (0.9%), HUBC (1.2%), AICL (4.6%) & UBL (0.6%), eroding 162 points, while ISL (up 2.1%), DAWH (0.9%), MTL (1.1%), SEARL (0.9%) & ENGRO (0.3%) added 38 points to the index.
Retail favorites led volumes with DSL churning out 25m shares in anticipation of plant commissioning, which as per last official communication from the company would fall in May 2017. Volumes remained flat at 372m shares, while traded value shed 22% to $173m as activity was concentrated in 2nd tier names.
