PSX: Global slump encourages bears take control of the bourse despite support from blue-chips

KARACHI: Benchmark KSE-100, shedding 416 points, closed in the red at 43,885 due to global sell off.

Rs. 8.5b worth of 238m shares were traded on week’s second trading day. Value of the shares of 226 companies declined, 142 augmented while 17 remained stagnant.

Communication, Chemical and Textile Sectors led the trading today with 30.3m, 29.2m and 26.5m shares respectively.

Today’s top five traders were Azgard Nine, 24.9m shares (+6.51pc), TRG Pak Ltd., 20.3m shares (+5.0pc); -Lotte Chemical, 19.4m shares (+2.43pc); Sui Southern Gas Company Ltd., 13.3m shares (+0.97pc); Byco Petroleum, 12.1m shares (+4.36pc).

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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.