KSE-100 Index Loses 200 Points to Settle Just Above 116,000 Level 

The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) settled at 116,052 points on Tuesday, down 202.44 points or 0.17 percent.  The market witnessed significant volatility, with the index reaching a high of 116,843 points and a low of 113,677 points.  A total of 792,770,655 shares were traded during the day as compared to 819,805,715 shares the previous trading day, whereas the price of shares stood at Rs 39.7 billion against Rs. 33.32 billion on the last trading day.      453 companies transacted their shares in the stock market today with 133 recording gains and 275 sustaining losses, whereas the share price of 45 companies remained unchanged.  Topline Securities highlighted that the decline in the index was primarily driven by EFERT, FFC, HBL, ATRL, and PSO, which together contributed to a loss of 433 points. On the other hand, ENGROH, OGDC, and TRG helped offset the losses, adding 436 points to the index.  Earlier in the day, Prime Minister Shehbaz Sharif informed the federal cabinet that the United Arab Emirates (UAE) has announced to extend the $2 billion debt that was due to be paid back by Pakistan this month.   Moreover, he said that as the program on the homegrown economy has been unveiled, it required measures to reduce the cost of electricity calling it inevitable to improve exports and commerce.   The premier said that he had chaired a meeting last week to mull reducing power prices, with the collaboration of provincial governments, and that a “comprehensive” meeting would be held this week on the subject.