Pakistan Stock Exchange (PSX) witnessed another dull trading session for the consecutive 2nd day. The index again started off with a huge pressure after HBL’s material information was sent to the bourse yesterday, which the investors took negatively.
The bearish spell continued to rule the market sentiment on the back of volatile political activity, rising hype of upcoming festival of Eidul Azha kept the investors away from trading activities while selling pressure by foreign portfolio investors also in dragging the index by 741.14 points to close in red at 41233.08 levels here on Tuesday. The market has touched the year’s low today again with 41046 level.
The market touched the intraday low of – 928 points which as market saw a huge selling pressure as well. The index tested the day’s high at 41974.22 points which was the opening of the day. The day’s low of 41046.24 came towards market close.
Participation was again minimal. Overall, trading volumes of All share index surged to 130 At the end of the day, 349 companies were traded with 59 stocks closed higher and 277 declined while 13 remained unchanged. In KSE 100, 69 million shares were traded with a net worth of Rs 4.74 billion. Another dull trading session was witnessed today.
Top traded sectors:
TRG Pak Ltd was the volume leader with 15.99 million shares, losing Rs 1.70 to close at Rs 34.47. It was followed by Azgard Nine with 13.88 million shares, losing Rs 1.00 to close at Rs 13.89, Sui southern gas with 7.72 million shares, gaining Rs 1.17 to close at Rs 38.46 and K-Electric Ltd with 6.22 million shares, losing Rs 0.13 to close at Rs 6.09.
Global stock markets tumbled in risk-off trade Tuesday with Asian equities, particularly in Tokyo and Seoul. Europe bourses also slumped nearly 2% to their 6 months low. North Korea fired a missile during early Asian hours that flew over Japan and landed in the Pacific. Meanwhile, U.S. stock futures pointed to a significantly weaker open on Wall Street later in the day, with the major benchmarks down between 0.6%-and-1%.
Global markets were shaken earlier this month after U.S. President Donald Trump cautioned that North Korea would be met with “fire and fury” if it continued to make threats against the U.S.