PSX ends on downward note for second consecutive day

KARACHI: The Pakistan Stock Exchange (PSX) continued its downward trend on Tuesday for the second consecutive day and ended on a negative note.

The benchmark KSE 100 index closed at 42,101.78 points after a minuscule decline of 13.53 points (-0.03%). The indices reached its highest level of 42,233.96 points and the lowest level of 41,948.35 points. The total volume of shares traded at the bourse were 194.702 million valued at Rs11.266 billion.

The lower bench KSE 30 index managed to nudge slightly with an increase of 7.43 points (0.04%) and closed at 17,633.31 points. The total volume of shares was 147.088 million. The KMI 30 index closed at 67,956.59 points with a decline of 57.76 (-0.08%) while the All Share Index decreased 5.72 (-0.02%) and closed at 29,476.76 points.

The highest number of shares traded belonged to Maple Leaf Cement Factory (MLCF 4.26%) which traded 31.696 million scripts. This was followed by Fauji Food Ltd (FFL 4.22%), TRG Pakistan (TRG -1.62%) and Hascol Petroleum Ltd (HASCOL 1.44). The number of scripts traded were 23.132 million, 22.547 million, and 21.698 million, respectively.

On Monday, the Pakistan Stock Exchange (PSX) ended its five-day winning streak as political instability, rising number  of coronavirus cases and uncertainty in global crude oil affected the positive momentum continuing since the past five days.

On the economic front, the federal budget deficit jumped to Rs894 billion or 2% of the size of economy in the first four months of the current fiscal year. The trade deficit marginally widened to $9.6 billion in the first five months of the current fiscal year on the back of a nominal increase in exports and imports