Pakistan Stock Exchange

KSE-100 index slides by 370 points on profit taking

Stock & Commodity

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 370 points on Wednesday as profit taking was witnessed during the day.

The index closed at 47,778 points from previous day’s closing of 48,148 points, showing a decline of 370 points,

Analysts at Topline Securities said that the equities closed negative.  After a slight positive opening profit taking has been witnessed at the bourse as Pakistan’s trade deficit widened by 20 percent to US$3.6 billion in May 2021 compared to US$3.0 billion in April 2021.  

E&Ps sector closed down 0.70 percent despite higher international oil prices. KAPCO down by 3.98 percent after announcing DPS of Rs5/share – lower than street expectation. Similarly TRG dented the KSE100 Index by 48 points.

Total traded volume and value for the day stood at 1,355 million shares and Rs23.18 billion, respectively. The volume leader for today’s session was WTL with 716.81 million shares exchanging hands.

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