ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) witnessed a huge bearish trend on Tuesday while losing 708.19 with a negative change (1.49 percent) to close at 46,770.42 points against 47,478.61 points last day. Market experts attributed the major decline towards the possible policy rate hike by the State Bank of Pakistan (SBP), along with concerns of continued devaluation of the local currency against the greenback.
The bearish trend observed by the market on Tuesday was recorded as a one-month low, as recent days witnessed a significant buying in the market pushing the index above 47000.
On Tuesday, most of the top-tier companies preferred selling their shares including automobiles, chemical, cement, commercial banks, oil and gas exploration entities, etc
During the day, a total of 217,852,268 shares were transacted against 184,138,134 shares last day, whereas the trading value of shares was witnessed at Rs 8.280 billion as compared to Rs 6.465 billion on Monday.
Bearish Trend at PSX
On Tuesday, 328 companies traded their shares in the stock market, 62 of them witnessed gains, and 244 sustained losses, whereas the share price of 22 companies was traded without a change.
As precedented in such a scenario, WorldCall Telecom remained the top leader among the top three trading companies with 27,409,040 shares at Rs 1.20 per share followed by K-Electric Ltd with 14,731,834 shares at Rs 2.00 per share whereas Dewan Motors stood as number third with 9,549,974 shares at Rs 16.32 per share.
Sanofi-Aventis witnessed a maximum appreciation of Rs 48.00 per share price while closing at Rs 759.00, whereas Al-Abbas Sugar stood as the runner-up with an increase of Rs 17.99 in its per share price to Rs 517.99.
Rafhan Maize XD recorded a maximum decline of Rs 45.00 per share closing at Rs 8255.00, followed by Systems Limited with a decrease of Rs 34.44 to close at Rs 430.89.
