PSX Loses Almost 500 Points as Investor Sentiment Remains Muted

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a range-bound session on Wednesday with the benchmark index moving between a high of 583 points and a low of 598 points, eventually closing at 112,253 points, down 490 points or 0.44 percent. A total of 263,963,740 shares were traded during the day as compared to 206,851,125 shares the previous trading day, whereas the price of shares stood at Rs. 13.73 billion against Rs. 11.337 billion on Tuesday. In a note, Brokerage House Topline Securities said the investor sentiment remained mixed due to the ongoing Ramadan period. The upward movement was mainly driven by ENGROH, TGL, LUCK, PIBTL, and NESTLE, which together contributed 155 points to the index. On the other hand, EFERT, FFC, and PSO combined to reduce the index by 181 points, the brokerage house pointed out.