Persistent Profit-taking Sees PSX Lose Over 700 Points

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Tuesday, losing 718.51 points, a negative change of 0.60 percent, closing at 118,971.13 points as compared to 119,689.63 points on the last trading day. A total of 437,920,561 shares were traded during the day as compared to 425,372,280 shares the previous trading day, whereas the price of shares stood at Rs. 20.811 billion against Rs. 22.274 billion on the last trading day. As many as 473 companies transacted their shares in the stock market, 177 of them recorded gains and 232 sustained losses, whereas the share price of 64 companies remained unchanged. Brokerage firm Topline Securities attributed the decline to persistent profit-taking, compounded by the absence of any positive triggers. The three top trading companies were At-Tahur Limited with 39,628,306 shares at Rs. 49.69 per share, Fauji Foods Limited with 30,264,152 shares at Rs. 15.81 per share and Gul Ahmed with 29,115,777 shares at Rs. 23.97 per share. PIA Holding Company LimitedB witnessed a maximum increase of Rs 1,370.34 per share closing at Rs 15,073.78 whereas runner-up was Khyber Textile Mills Limited with Rs. 130.19 rise in its share price to close at Rs. 1,432.07. Hoechst Pakistan Limited witnessed a maximum decrease of Rs. 47.90 per share price, closing at Rs. 3,150.14, whereas the runner-up Sapphire Textile Mills Limited with Rs. 37.87 decline in its per share price to Rs. 1,100.00.