Pakistanis lost Rs83 billion in stocks in previous trading week

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KARACHI  – Pakistan Stock Exchange (PSX) 100-index dropped from 49, 900 points to 49, 300 in last trading week.

Meanwhile, Rs83 billion were lost in stocks due to which volume of market capital went down from Rs98 trillion to Rs97 trillion.

Though previous trading week began with bullish momentum as 100-index inducted 414.70 points in first two days but plummeted 964.60 points in last three days of the trading week.

Analysts say PSX is witnessing technical correction as it nears 50,000-point mark.

Investors prefer to sell shares for earning profit, thus benchmark-index jumped to negative zone from positive zone, pronounced stock analysts. Panic among market participants was further compounded following reports of likely verdict in Panama leaks case.

41, 25, 75025 shares worth Rs47 billion were traded in last week. Shares of 2, 087 companies were traded in last week out of which price of shares of 897 companies went up whereas price of shares of 1118 companies was dropped. Shares of 72 companies remained stable.

KSE 100-index also lost 225 points to arrive at 26, 695.57 point-level mark.

2017-02-21

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