The Pakistan Stock Exchange ended Tuesday’s erratic trading session on a slightly negative note, with the benchmark KSE-100 index losing 26 points, or -0.05 per cent in intraday trading to reach 48,628 after dipping as low as 48,073.
“Market sentiment remains negative as investors are wary from the pending verdict in the Panama Case as well as the regulatory action being taken against the badla system,” a commercial bank source who did not want to be named said.
The session marks the fourth consecutive trading day which has seen the benchmark index shed points as investors remain reserved due to declining oil prices, while regulatory crackdowns along with the pending verdict in the Panama Case weigh in on market sentiment as well.
Volumes were led by commercial banks and cement stocks as the market settled as the market oscillated from losing more than 500 points to settling at settling at a loss of just 26 points.
More than 92.6 million shares changed hands by the middle of the session, with a total worth of nearly Rs 9.49 billion.
Stocks of 324 companies were traded, of which 71 gained in value, 239 declined and 14 remained unchanged.
Volumes were led by:
TRG Pak Ltd: 14.3m shares traded [+1.92pc];
Suit North Gas: 12.1m shares traded [+0.85pc];
Power Cement Ltd: 11.9m shares traded [+5.46pc];
K-Electric: 10.8m shares traded [+1.05pc]; and,
Bank of Punjab: 8.76m shares traded [-1.40pc].