The Pakistan Stock Exchange started Tuesday’s trading session on a negative note, with the benchmark KSE-100 index losing 498 points, or -1.02 per cent in intraday trading to reach 48,157 after breaching support level at 48,355 points.
Tuesday’s session marks the fourth consecutive trading day which has seen the benchmark index shed points as investors remain reserved due to declining oil prices, while regulatory crackdowns along with the pending verdict in the Panama Case weigh in on market sentiment as well.
“Market sentiment remains negative as investors are wary from the pending verdict in the Panama Case as well as the regulatory action being taken against the badla system,†a commercial bank source who did not want to be named said.
More than 51.2 million shares changed hands by the middle of the session, with a total worth of nearly Rs 5.37 billion.
Stocks of 324 companies were traded, of which 71 gained in value, 239 declined and 14 remained unchanged.
Volumes were led by:
TRG Pak Ltd: 8.01m shares traded [-3.47pc];
Power Cement Ltd: 7.61m shares traded [+2.07pc];
Suit North Gas: 7.18m shares traded [-4.97pc];
K-Electric: 5.64m shares traded [0.00pc]; and,
Lotte Chemical: 5.54m shares traded [-3.98pc].
This is a mid-day report that may not reflect recent changes in market movement. For a more detailed assessment of market activity, read our full-day report published after market close at 3.30pm PST.