ISLAMABAD: After losing about 150 points last day, the 100-index of the Pakistan Stock Exchange (PSX) continued its bearish trend on Tuesday while further losing 357.33 points with a negative growth of 0.78 percent. At the closing of the day, the index settled at 45,508.40 points as compared to the previous day’s stand of 45,865.73.
A total of 126,341,546 shares were transacted against 213,198,283 shares, whereas the trading value of shares was witnessed at Rs.4.987 billion as compared to Rs.8.194 billion on Monday.
Bearish Trend at PSX
On Tuesday, the market continued its bearish trend, which it had witnessed since last day. Market experts believe the negative impact of the market is due to the possible increase in the policy rate in the coming few days. State Bank of Pakistan has announced a meeting of the Monetary Policy Committee on Thursday to issue the policy statement the same day.
The Monetary Policy Committee of #SBP will meet on Thursday, September 14, 2023 to decide about the Monetary Policy. SBP will issue the Monetary Policy Statement through a press release on the same day.https://t.co/fuY4XdelP0 pic.twitter.com/3mupXBh4fg
— SBP (@StateBank_Pak) September 12, 2023
Meanwhile, on Tuesday, 294 companies traded their shares in the stock market, 73 of them accumulated gains and 196 sustained losses, whereas the share price of 25 companies recorded no change.
Hubco Power Company remained the leader among the top-three trading companies with 11,871,442 shares at Rs 82.02 per share, followed by WorldCall Telecom with 9,781,098 shares at Rs 1.14 per share and Treet Corporation settled as number three with 7,144,408 shares at Rs 16.41 per share.
Reliance Cotton witnessed a maximum gain of Rs 40.50 per share price, closing at Rs 580.50, whereas Ibrahim Fibres settled as the runner-up with a gain of Rs.8.99 in its per share price to Rs 259.99.
Unilever FoodsXD witnessed a maximum decline of Rs.1,573.00 per share closing at Rs 21,255.0; followed by Mari Petroleum with a decrease of Rs21.36 per share to close at Rs1,591.46.
