Abb Takk News

PSX: Stocks Continues to Lose Ground Due to Uncertainty

Web Desk (August 8, 2017): Pakistani stocks continued to lose ground ahead of ousted prime minister Nawaz Sharif’s planned rally on August 9, with the benchmark KSE-100 Index losing 486 points (1.05 per cent) to drop below the 46,000 points barrier and close at 45,979.70.

The index traded sideways for the greater part of the day before experiencing a sharp decline close to the 1.30pm mark.Out of the 371 symbols traded on the exchange on Tuesday, only 81 advanced and 15 remained unchanged. On the other hand, 275 closed below the price they opened.

Commercial banks were by far the most traded sector on Tuesday, with 44.3m shares traded. Technology and energy stocks followed with 20.7m and 19.2m shares, respectively.

Exchange volumes touched 205.8 million shares, with a total worth of Rs8.83 billion. KSE-100 trade volumes dropped to 84.5m shares, worth Rs6.3bn.