Bearish trend in stock market despite positive economic indicators
The bearish trend prevailed in the market—File: Photo
Karachi: Despite good financial results, a possible cut in interest rates and positive economic indicators, the Pakistan Stock Exchange (PSX) remained bearish after volatility on Tuesday and investors lost a total of Rs 20.87 crore 10 lakh 33. A loss of 803 rupees had to be borne.
Due to a limited decline in the stock market, share prices fell by 48.24% and investors lost 20 billion 87 crore 10 lakh 33 thousand 803 rupees.
Foreign buying activity in other sectors, including cement banking, led to a 413-point surge during the trading period, but the ongoing bullishness was caused by the withdrawal of Shanghai Electric’s offer to buy K-Electric shares and the rollover week. Changed.
The stock market fell by 95 points at one point, but in the closing moments, buying activity in the cement sector eased the fall slightly, resulting in the KSE-100 index down 74.06 points at the end of trading. closed at the level of 71359.41 points.
KSE-30 index increased by 0.50 points to 23132.29 points, KMI-30 index increased by 77.92 points to 119675.93 points and KMI All Share Index also decreased by 47.01 points to close at 33318.57 points.
The trading volume was 0.11% less than Monday and a total of 65 crore 59 lakh 35 thousand 508 shares were transacted while the scope of business activity was limited to shares of 371 companies.
During business transactions, 170 companies increased in price, 179 decreased in price and 22 remained stable. Among the companies whose share prices increased significantly, the price of Hallmark Company increased by Rs. 64.57 to Rs. 928.57 and was favorable. The prices of Engineering Works Limited increased by Rs 29.45 to Rs 626.15, the prices of Rafhan Meez Company decreased by Rs 184.90 to Rs 8125.10 and the prices of Unilever Pakistan Foods decreased by Rs 58.84 to Rs 20474.50.
Bearish trend in stock market despite positive economic indicators