Abb Takk News

PSX Declines as Political Uncertainty Hovering

KARACHI: After good positive first-day bears returned to the Pakistan stock market on Tuesday as the recent announcement of the Supreme Court caused panic among investors, triggering selling pressure in the market.

The KSE-100 index opened on a positive note, however, the index dived following news that the apex court had taken notice of extension in tenure of the chief of army staff.

At close, the benchmark KSE 100-share Index recorded a decrease of 417.23 points, or 1.09%, to settle at 37,795.05.

Overall, trading volumes increased to 488.7 million shares compared with Monday’s tally of 241.5 million. The value of shares traded during the day was Rs18.4 billion.

Shares of 378 companies were traded. At the end of the day, 133 stocks closed higher, 234 declined and 11 remained unchanged.