Bears continue to lead the PSX amid dull trading sessions

Bears continue to lead the PSX amid dull trading sessions

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Bears continued to lead the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 index losing 158 points in one of the dullest trading sessions in recent months.

The index fluctuated from the day’s high of 42,580 points to a low of 42,199 before closing at 42,301 points on Wednesday.

“Market participation in terms of traded value dropped to a 149-session low to Rs2.9bn. A similar situation was witnessed last on Dec 18, 2017 with value of Rs2.6bn,” Topline Research noted.

Over all, only 77.5 million shares worth Rs2.9 billion were traded at the exchange, with volumes lower by around 100m. Of the 332 scrips traded, 131 advanced, 174 weakened and 27 remained unaffected.

Commercial banks dominated the exchange with 12.8m shares traded.

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Volumes were led by:

  1. Faysal Bank Limited: 5.1m shares traded [-0.77pc];
  2. First Dawood Investment Bank Ltd: 3.9m shares traded [-6.73pc];
  3. Unity Foods Limited: 3.8m shares traded [-2.88pc];
  4. Engro Polymer and Chemicals Ltd: 3.5m shares traded [-0.89pc];
  5. Bank of Punjab: 3.4m shares traded [-1.55pc].

 

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