KARACHI: Pakistani stocks dropped 185 points on Tuesday, due to investors’ desire to book gains.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 43,437 points, down 185 points from the previous day’s close of 43,622 points.
So according Arif Habib Limited experts, the market saw a range-bound session today.
The benchmark KSE-100 index began in the green, but investors chose to book profits, causing the index to end in the negative.
Because of the results announced throughout the day, the refineries and E&P industries remained in the spotlight.
Investor activity remained solid, with large volumes seen in third-tier equities.
Miscellaneous (-58.1 points), Technology (-52.2 points), E&P’s (-25.3 points), Automobile Assemblers (-24.0 points), and OMC’s all contribute to the performance (-21.3 points).
Volumes fell from 541.5 million to 518.0 million shares (-4.3 per cent DoD). The average traded value fell by 3.7% to US$ 75.8 million, down from US$ 78.7 million. CNERGY, FFL, UNITY, PRL, and HASCOL all contributed considerably to the volume.
