PSX registers decline of 476 points

Pakistan Stock Exchanged (PSX) registered big decline of 476 points after maintaining KSE 100 Index to historic 1,47,718 point during intra-day trading on Wednesday, reported 24NewsHD TV Channel.

Earlier during intra day trading PSX’s benchmark KSE-100 Index surged by 642.34 points or 0.44 percent to 147,647.66 points.

KSE 100 Index closed at 146529, down 476 points. The highest level during the trading session was 147892. The Hundred Index closed at 147005 yesterday.

Of the total 460 companies traded so far, share prices of 282 companies went up and that of 161 companies went down while 17 remained unchanged.

Buying interest was observed in key sectors including automobile assemblers, commercial banks, fertiliser, oil and gas exploration companies, OMCs and refinery. Index-heavy stocks including ARL, OGDC, POL, SNGPL, HBL, MCB, MEBL and NBP traded in the green.

Analysts opined that strong corporate earnings and anticipation of investments from the United States in key sectors, including energy, are driving the positive sentiment at the bourse. On Tuesday, the PSX had closed at a record high despite heavy profit-taking by investors keen to lock in recent gains. The benchmark KSE-100 Index ended just 75.48 points, or 0.05% up, at 147,005.32 points.

 
Reporter Kavish Memon