The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index lost 326.50 points (-0.65pc) on Tuesday as the bulls appeared to lose some of the momentum they had gained in the lead-up and aftermath of the Panamagate verdict.
The index settled at 49,785.17 points, back below the 50,000 barrier after crossing it just a day earlier. Almost 130.4 million shares of indexed companies were traded, which had a total value of Rs12.62 billion.
"Stocks closed lower amid higher trades on institutional profit taking in overbought scrips," reported Ahsan Mehanti, analyst at Arif Habib Corp.
"Falling global crude prices, dismal payouts in the quarter-end earning season and investor concerns for current account deficit and foreign outflows played a catalyst role in the bearish close," Mehanti said.
A total of 381.35m shares were traded on the PSX, with a total worth of Rs18.97bn. 381 symbols were active during the day, of which 130 closed higher, 234 lost value and 17 remained unchanged.
Trading activity was focused in chemical and commercial bank stocks, with engineering, textile and technology closing out the top five sectors traded.
Volumes were led by:
Engro Polymer: 30.92m shares traded (+0.97pc)
Summit Bank: 29.79m shares traded (+9.95pc)
Azgard Nine: 28.71m shares traded (+7.62pc)
Aisha Steel Mill: 24.79m shares traded (-4.61pc)
TRG Pak Ltd: 24.1m shares traded (1.72pc)
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