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PSX loses momentum as KSE 100-index sheds 379 points

KSE-100 finished with a drop of 379.12 points

KARACHI: The Pakistan Stock Exchange (PSX) failed to carry forward its positive momentum on the second day of the trading week and ended a volatile session on negative note.

Tuesday’s session saw the index fluctuating between the high of 47,387.34 and the low of 46,607.21. At close, the KSE-100 finished with a drop of 379.12 points or 0.80% to settle at 46,891.34.

Sectors dragging the benchmark KSE-100 index lower included cement (90.02 points), technology and communication (55.76 points), and refinery (52.55 points). Shares of 525 companies were traded on Tuesday, of which 102 registered an increase, 411 recorded a fall, while 12 remained unchanged.

Volume on the all-share index increased from 395.84 million on Monday to 479.79 million on Tuesday. The value of shares traded, however, declined during the session, amounting to Rs15.04 billion from Rs16.19 billion.

Byco Petroleum was the volume leader with 71.67 million shares, followed by Telecard Limited with 51.43 million shares, and WorldCall Telecom 25.35 million shares.