KARACHI: Pakistan stocks witnessed bearish trading on Tuesday which was continued from a day earlier.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,540 points from previous day’s closing of 41,613 points, showing a decline of 73 points.
READ MORE: Pakistan stocks witness bloodbath due to economic woes
Analysts at Arif Habib Limited said that a mixed session was witnessed at the PSX during the day.
The market opened in the green territory however, selling momentum built up over the ongoing political clamor in the country.
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Deteriorating macroeconomic factors have continued to undermine investors’ confidence resulting in significant volume reductions from the mainboard as 3rd tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Automobile Assembler (-27.7 points), Chemical (-18.7 points), OMC’s (-16.6 points), Commercial Banks (-16.0 points), Inv. Banks / Inv. Cos. / Securities Cos. (-13.6 points).
READ MORE: Pakistan stocks lose 243 points on political unrest
Volumes increased from 126.3 million shares to 131.7 million shares (+4.3 per cent DoD). The average traded value also increased by 20.1 per cent to USD 17.4 million as against USD 14.5 million.
Stocks that contributed significantly to the volumes are DCL, WTL, DFML, TPLP and KOSM.
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