Pakistan's PSX stays bearish as investors act cautiously

Source: Xinhua| 2017-08-08 22:16:53|Editor: Zhou Xin
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ISLAMABAD, Aug. 8 (Xinhua) -- The Pakistan Stock Exchange (PSX) stayed bearish for the third straight day on Tuesday as investors decided to stay low-key and act cautiously amid the rising political temperature in the country, which forced the key index to give away the psychological barrier of 46,000 points.

The Pakistan Stock Exchange's benchmark KSE 100-Index declined by 1.05 percent, or 485.96 points, to 45,979.70 points on Tuesday when compared with 46,465.66 points reported on Monday. During the three-day bearish spell, the main index has lost 1,104.64 points.

The KSE All-Share Index decreased by 1.03 percent or 339.06 points to 32,444.10 points, the KSE 30-Index dipped by 1.06 percent, or 254.70 points, to 23,869.22 points, the KMI 30-Index slumped by 1.34 percent, or 1,070.84 points, to 78,704.59 points, whereas the Islamic All-Share Index fell by 1.37 percent, or 317.10 points, to 22,785.35 points.

During Tuesday's trading session, the main index moved in a broader range of 630.76 points as it touched an intraday high of 46,535.78 points as against an intraday low of 45,905.02 points.

Market volumes depleted by 14.62 percent, or 35.24 million shares, to 205.79 million shares on Tuesday when compared with a trading of 241.03 million shares posted on Monday.

Market capitalization deflated by 1.03 percent, or 99.61 billion rupees (923.61 million U.S. dollars), to 9.53 trillion rupees whereas trade value shrank by 13.43 percent, or 1.37 billion rupees, to 8.83 billion rupees.

Among 384 active scrips on Tuesday, the prices of 295 issues shrank, 75 expanded, whereas values of 14 other companies stayed unchanged.

Summit Bank, Karachi Electric Limited, and TRG Pakistan Limited were the top traded companies with turnovers of 27.21 million shares, 17.67 million shares, and 16.12 million shares, respectively.

Philip Morris Pakistan was the top price gainer with an increment of 107.17 rupees to close at 2,693.15 rupees while on the flip side Rafhan Maize led the major price shedders with a decrement of 370.00 rupees to finish the day at 7,030.00 rupees. (1 U.S. dollar = 107.85 rupees)