Share prices lose steam at Pakistan Stock Exchange

Share prices at Pakistan Stock Exchange (PSX) lost steam on Tuesday as the index shed more than 800 points, reported 24NewsHD TV channel.

At the close of business, Pakistan Stock Exchange's benchmark KSE-100 index slided by 802.56 points or 0.70% to reach 115,042.25 points reflecting marked decrease in almost all sectiors.

Earlier on Monday, the KSE-100 gained 572.73 points, or 0.5 percent, to settle at 115,844.82 points at the closing of the stock market.

Lotte Chemical remained the top-trading company at the PSX, with 59.47 million shares at Rs23.23 per share, followed by Bank Makramah with 57.8 million shares at Rs3.4 per share.

WorldCall Telecom remained the third with 56.89 million shares to settle at Rs1.87 per share at the closing of the Pakistan Stock Exchange.

Hoechst Pakistan Limited recorded an increase of Rs166.92 per share to close at Rs2,986.68, followed by Colgate-Palmolive (Pakistan) Limited which was up by Rs23.9 to close at Rs1,515.49.

Unilever Pakistan Foods Limited witnessed a decline of Rs148.5 per share price, closing at Rs21,849.5, while Philip Morris (Pakistan) Limited was down by Rs34.49 to settle at Rs.698.11 at the closing of the PSX.

Reporter: Basim Iftikhar