PSX: Bears enter the bourse after 13 days of bullish rally!

KARACHI: Growling bears scared the bulls off the bourse who reigned the stock exchange for thirteen days. Benchmark KSE-100 Index closed below 43,000, shedding 298 points today.

The automobile, cement, fertilizer and commercial banking sectors closed in the red today as Rs. 9.8b worth of 225 m shares changed hands today. Value of the shares of 212 companies plummeted, 132 augmented and 22 remained stagnant.

The top five traders of the shares today were: TRG Pak Ltd: 23.5m shares (+4.62pc); WorldCall Telecom, 19.5m shares (-5.36); Pak Elektron, 16.0m shares (+4.31pc); Sui South Gas, 15.7m shares (+2.93pc); Azgard Nine, 8.3m shares (+0.33pc).

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.