KARACHI: Pakistan Stocks have recorded a decline of 255 points on Tuesday in volatile trading session.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,818 points from previous day’s closing of 46,073 points, showing a decrease of 255 points.
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Analysts at Arif Habib Limited said that the PSX witnessed a volatile secession today, KSE-100 index opened on the positive note but failed to sustain the green zone due to 6-Month KIBOR reaching a 13 year high of 14.10 per cent which pulled the market down towards the red zone giving the bears an upper hand in the market.
The secession remained dull although hefty volumes were observed in the 3rd tier stocks.
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Analysts at Topline Securities said that Pakistan equities closed negative where benchmark KSE-100 Index settled at 45,817 level (down 0.55 per cent). After a slight positive opening market traded sideways where benchmark index made an intraday low of 290 points as investors’ concerns over ongoing Extended Fund Facility (EFF) program.
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Sectors contributing to the performance include E&P (-64.6 points), Technology (-38.7 points), Power (-36.03 points), and Cement (-33.2 points).
Volumes decreased from 368.8 million shares to 210.2 million shares (-43.0 per cent DoD). Average traded value also decreased by 35.6 per cent to reach US$ 33.5 million as against US$ 52.1 million.
Stocks that contributed significantly to the volume are GTECH, LOTCHEM, HUMNL, WTL and TELE.
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