Pakistan Stock Exchange (PSX) witnessed another strong bearish trend on Tuesday as the benchmark KSE-100 Index plunged to 160,101.02 points following a drop of 2062.79 points with a negative change of 1.27%. The stock market closed the session at 160,101.02 against 162,163.81 points in the previous session.
At the onset of the trading session, the stock market rebounded and gained over 1200 points to reach 163,380.67 points; however, it could not maintain the bullish trend, and strong selling pressure emerged amid news that the Istanbul dialogue between Pakistan and Afghanistan ended without any result.
A total of 476 companies transacted their shares in the stock market; 113 recorded gains, 334 sustained losses, and 39 remained unchanged.
The overall trading volume in the ready market stood at 1,014,137,798 shares compared to 1,006.69 million shares on the prior day, whereas the traded value increased to Rs36.709 billion from Rs34.82 billion.
Selling was observed in key sectors including cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refineries. Index-heavy stocks, including HUBCO, POL, PPL, SSGC, MCB, MEBL and UBL, traded in the green.
