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PSX witnesses bearish trend as KSE-100 down by 168.24 points

KARACHI: Pakistan Stock Exchange (PSX) witnessed a bearish trend as KSE-100 closed at 40122.50 points as compared to 40290.74 points on the previous working day with negative change of 168.24 points (-0.42%).

Head of Equity, InterMaket Securities Pvt Ltd, Raza Jaffari said that the selling pressure was seen in the some scrips of power and fertilizers sectors which led the bearish trend in the market.

“This pressure of selling in the market is temporary and the market may resume bullish trend on the next trading sessions”, he added.

According to Pakistan Stock Exchange (PSE), total volume of shares traded was 522,652,249 while value of shares traded during day stood at 22,489,422,846.

As many as 403 companies transacted shares in stock market, out of total 210 recorded gains and 173 sustained losses, whereas share price of 20 companies remained unchanged during the day.

Top three companies traded were Unity Foods Ltd with volume of 37,368,500 shares, Hascol Petrol with 35,309,500 and TRG Pak Ltd with 26,451,000.

Unilever Foods registered a maximum increase of 210.00 per share, closing at 9800.00 while Sapphire Tex recorded a maximum decrease of 44.50 per share, closing at 825.00

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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.