PSX experiences worst slide in months as KSE-100 index loses 1,218 points

PSX experiences worst slide in months as KSE-100 index loses 1,218 points

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A bloodbath was observed at the Pakistan Stock Exchange (PSX) as the market saw its worst slide in months with the benchmark KSE-100 index losing 1,219 points.

A day after the accountability court in Islamabad announced the date for the announcement of verdict on Avenfield references against Sharifs, the index slid to 40,346 points.

The volumes remained on the lower side with only 117.6 million shares worth Rs5.8 billion traded as only 29 of the 326 traded scrips advanced, while 2852 declined in value and 15 remained unchanged.

The cement sector dominated trading with 17.4m shares traded.

Volumes were led by:

  1. Pak Elektron Ltd: 10.3m shares traded [-4.99pc];

  2. Bank Of Punjab: 7.0m shares traded [-5.63pc];

  3. TRG Pakistan Ltd: 4.5m shares traded [-4.97pc];

  4. K-Electric Limited: 4.3m shares traded [-4.78pc];

  5. Pakistan Intl. Bulk Terminal Ltd: 4.3m shares traded [-3.21pc].

Source: News

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