Pakistan Stock Exchange (PSX) on Tuesday witnessed bearish trend and the benchmark KSE-100 Index dropped 718.51points to 118,971.12 points against the 119,689.63 points in the previous session.
In the onset, market opened in red, however later gained over 200 points but could not maintained this bullish trend due to selling pressure amid undertrained situation recorded new taxes in the coming budget.
The high level of the market was recorded at 119,900.37 points and the low at 118,527.09 during the session.
A total of 107,510,797 shares were traded during the day as compared to 425,372,280 shares the previous trading day, whereas the price of shares stood at Rs 11.052 billion against Rs 22.274 billion on the last trading day.
As many as 473 companies transacted their shares in the stock market, 177 of them recorded gains and 232 sustained losses, whereas the share price of 64 companies remained unchanged.
Selling pressure was observed in key sectors, including automobile assemblers, commercial banks, oil and gas exploration companies, and OMCs. Index-heavy stocks, including HUBCO, NBP, UBL, MARI, OGDC, PPL, and POL, traded in the red.
