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PSX drops 273 points as political uncertainty persists

MM News Staff by MM News Staff
February 28, 2023

KARACHI: Pakistan Stock Exchange (PSX) witnessed bearish trend on Tuesday, losing 273.76 points, a negative change of 0.67 per cent, closing at 40,510.37 points against 40,784.13 points the previous day.

A total of 126,319,112 shares were traded during the day as compared to 158,084,396 shares the previous day, whereas the price of shares stood at Rs.5.648 billion against Rs.5.718 billion on the last trading day.

As many as 334 companies transacted their shares in the stock market; 82 of them recorded gains and 234 sustained losses, whereas the share price of 18 companies remained unchanged.

Also read: Moody’s downgrades Pakistan’s rating to Caa3 from Caa1

The three top-trading companies were WorldCall Telecom with 18,527,406 shares at Rs.1.29 per share; Oil and Gas Dev. with 5,333,028 shares at Rs.82.62 per share, and TPL Properties with 4,479,369 shares at Rs.14.93 per share.

Unilever Foods witnessed a maximum increase of Rs.1,542.50 per share price, closing at Rs.22,500.00, whereas the runner-up was Pak Services with an Rs.130.00 rise in its per share price to Rs.2,095.00.

Rafhan Maize witnessed a maximum decrease of Rs.288.00 per share closing at Rs. 8,700.00; followed by Sapphire Tex. with Rs.78.46 decline to close at Rs.1,006.00.

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