PSX suffers over 1300-point loss in early trade

KARACHI: On the fourth trading day of the week, the Pakistan Stock Exchange (PSX) saw losses, with the benchmark KSE-100 index falling by 935.15 points around 9:39 AM to 113,213.3, with a trading volume of 10,447,186.

This decline followed the previous trading session’s close at 114,148.45, a loss of 1,904.23 points or 1.64 per cent on Wednesday.

The PSX began to recover some of its losses after 9:40 AM, with the index standing at 113,923.56 around 9:45 AM, still showing a loss of 224.89 points, and the volume increased to 21,577,724.

Interestingly, the KSE-100 index reached a day high of 114,312.99, gaining 164.54 points around 09:31 AM, when the trading volume was 799,573.

By 10:15 AM, companies trading in the red within the KSE-100 index included PGLC, which dropped by 9.99 per cent to 21.09; ENGROH, down by 4.00 per cent to 261.50; NBP, down by 2.30 per cent to 59.98; SHEL, down by 2.21 per cent to 197.98; and AIRLINK, down by 1.63 per cent to 209.35.

On the other hand, companies that showed gains during this time included JDWS, up by 10.00 per cent to 995.45; MEHT, up by 8.12 per cent; EFUG, up by 8.01 per cent to 124.70; PKGP, up by 4.93 per cent to 101.98; and HGFA, which rose by 4.32 per cent to 11.35.

Overall, the top advancers during this period included BRRG with a 9.77 per cent gain, PKGI with a 9.13 per cent gain, BAFS with an 8.84 per cent gain, FZCM up by 8.84 per cent, and PCAL with an 8.40 per cent increase.

Meanwhile, notable decliners included FECM, which dropped by 10.83 per cent; SBP, down by 10.32 per cent; SUHJ, down by 10 per cent; LIVEN, down by 10 per cent; and AATM, also down by 10 per cent.

By 10:34 AM, the PSX had dropped by 1,369.9 points to 112,778.55, marking a new low for the day as of 11:14 AM, when the volume stood at 100,105,890.

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