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PSX sheds 447pts to close at 38,852

PSX sheds 447pts to close at 38,852

KARACHI: Started on positive note, the Pakistan Stock Exchange (PSX) witnessed a bearish session later as the benchmark 100-index lost 447.67 points or 1.28pc to settle at 38,851.96 on Tuesday.

The KMI 30 index declined by 875.21 points and ended at 65,548.16, while the KSE All Share index fell short by 241.52 points, settling at 28,551.59. The advancers to decliners ratio stood at 163 to 219.

Trading volumes declined from 154.17 million in the preceding session to 124.01 million. Pak Elektron Limited (PAEL -0.24pc), Amreli Steels Limited (ASTL +2.73pc) and K-Electric Limited (KEL -0.84pc) were the volume leaders of the day. The scripts had traded 9.15 million shares, 8.57 million shares and 7.79 million shares respectively.

The technology and communication sector (-3.36pc), textile weaving sector (-2.66pc), insurance sector (-2.55pc), investment banking sector (-2.51pc) and woolen sector (-2.17pc) all ended on the losing side, while the miscellaneous sector (+1.91pc), modarba sector (+0.54pc), automobile parts and accessories sector (+0.46pc), tobacco (+0.45pc) and food and personal care products sector (+0.33pc) emerged as major winners of the day.

Following the declining trend of global oil prices, the oil and gas exploration sector lost 1.27pc from its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC) declined by -1.20pc while Pak Petroleum Limited (PPL) by -1.42pc. Pakistan Oilfields Limited (POL -1.46pc) and Mari Petroleum Company Limited (MARI -1.77pc) also closed in red.