KARACHI: The Pakistan Stock Exchange (PSX) failed to maintain the post Eid positive mood and ended the day in negative. Investors opted for profit-taking followed by an increase in share prices and some negative news regarding the COVID-19 situation in the country.
The Karachi Share Index (KSE-100) lost 299.71 points (0.65 percent) after closing at 45,682.11 points, against the previous closing of 45,981.82 points. The market went as high as 45,981.82 points during intraday trading, while recording as low as 45,610.92 points.
Trading volume moved up to 578.3million shares today, as compared to 536.7m traded in the previous session, according to PSX’s website data. The daily traded value declined to Rs20.7billion from Rs23.1bn in the previous session, the data said.
“The correction was expected after the bull run,” traders and analysts said. “It was expected to provide strong ground for fresh buying but the still worrisome COVID situation kept investors in a cautious mood.” There were news of over a 100 people lost life due to the infection for last two days.
The share price of Wyeth Pakistan increased by Rs96.31 to Rs1,380.49, while Mari Petroleum gained Rs25.38 to Rs1,600.31. On the other hand, Sapphire Fiber lost Rs55.58 today to close at Rs776, while Nestle Pakistan lost Rs50 to close at Rs5,550.