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Full-day report: Benchmark index erases Monday's gains

Updated Feb 14, 2017 04:55pm


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The Pakistan Stock Exchange ended Tuesday on a bearish note after a range-bound session, with the benchmark KSE-100 index losing 197 points, or 0.40 per cent, by the day's close to reach 49,767.91 points.

After opening lower, the index breached the 50,000-point benchmark in the first half of the session. However, it soon headed back into negative territory after briefly testing the barrier.

The index moved between the day's high of 50,030.13, and a low of 49,530.38 points, before closing in the red.

136.4 million shares had changed hands by the end of the session, with a total worth of nearly Rs11.5 billion.

Stocks of 391 companies were traded, of which 125 gained in value, 251 declined and 15 remained unchanged.

Volumes were led by:

  1. Aisha Steel Mills Ltd.: 40.87m shares traded (+0.36pc);

  2. Power Cement Ltd.: 37.17m shares traded (+0.45pc);

  3. K-Electric Ltd.: 23.57m shares traded (-0.49pc);

  4. Dost Steels Ltd.: 18.21m shares traded (+2.37pc); and,

  5. TRG Pak Ltd: 14.41m shares traded (-0.68pc).


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Comments (3) Closed

Skeptic Feb 14, 2017 02:50pm

What goes up, must come down. The market is already overheated, and cannot sustain this trend for too long, with the absence of fundamentals and underlying basis for the continuing climb.

I fear the Dow is also over-inflated and has gained over 2000 points just in the last three months, in the expectations that Trump presidency will be good for the business. I think Trump administration is headed for a melt-down, and will take the market sharply down with it. PSX or other world markets will go in tandem.

Take cover, take profit and get out now - before a big shock makes your head spin.

The end is near Feb 14, 2017 03:01pm

It doesn't make any difference. We will remain a poor country.

Karim Feb 15, 2017 06:05am

@The end is near To be a poor country is different than to be a poor citizen. Skeptic is right,law of gravitation apply everywhere. Anything which goes up,surely comes down.