Pakistan Stock Exchange (PSX) on Tuesday continued downward trend despite 1 percent cut in interest rate as KSE-100 Index lost 1489 points during trading, reported 24NewsHD TV channel.
Economic experts claim the negative trend can largely be attributed to the weaker-than-expected financial results of MARI, which dampened investor sentiment.
PSX 100 index closed down 1.31% at 112,300 and 51.78 crore shares worth Rs 29.20 billion were transacted during the trading session.
They said, “The company reported an earnings per share (EPS) of Rs. 9.3, with no cash payout, falling below market expectations and contributing significantly to the bearish activity observed during the trading session”.
Yesterday, KSE 100-Index of the Pakistan Stock Exchange (PSX) losing 1,360.16 more points, a negative change of 1.18 percent, closing at 113,520.32 points.
A total of 494 million shares were traded during the day as compared to 632 million shares the previous trading day, whereas the price of shares stood at Rs25.940 billion against Rs37.8 billion on the last trading day.
As many as 442 companies transacted their shares in the stock market, 97 of them recorded gains and 298 sustained losses, whereas the share price of 47 companies remained unchanged.
The three top trading companies were Sui South Gas with 51 million shares at Rs 39.53 per share, Cnergyico PK with 50 million shares at Rs7.57 per share and WorldCall Telecom with 29 million shares at Rs1.73 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs395.46 per share closing at Rs 21,995.45 whereas runner-up was Archroma Pakistan Limited with Rs 43.51 rise in its share price to close at Rs478.56.
Reporter: Ayaz Rana