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PSX: Judicial activism and political noise lets bears color the bourse red!

KARACHI: As SCP imposed on the outbound travel of many politicians and bankers, bears attacked the bourse.

Benchmark KSE-100 Index closed in the red (39,289) shedding 996 points (that was the third biggest decline in 2018).  Rs. 4.46b worth of 76m shares were traded today. Value of the shares of 265 companies plummeted, 32 augmented while 19 remained stagnant.

Today’s top five traders of shares were: K-Electric Ltd., 11.9m shares (-5.38pc); Bank of Punjab, 8.4m shares (-4.63pc); Lotte Chemical, 5.8m shares (-5.09pc); Unity Foods, 5.1m shares (-3.34pc) and Pak Elektron Ltd., 4.4m shares (-4.79pc).

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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.