PSX returns to trading in red after a day of modest gains

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index lost over 132.45 points on Thursday.

The index reached 46,232.59 points at the session’s end, down by 132.45 points or 0.29 per cent from yesterday’s close of 46,365.04 points.

Major activity was reported in stocks such as Oil and Gas Development Company Limited, World Call Telecom Ltd, Agritech Limited, Fauji Foods Limited, Pakistan International Airlines Corporation Limited, and Pakistan Petroleum Limited.

Companies that recorded the biggest declines in their share prices today were SME Leasing Limited, Shadab Textile Mills Limited, Shezan International Limited, Ellccot Spinning Mills Limited, and Masood Textile Mills Limited.

Yesterday was the third consecutive day that the market saw a sideways trading pattern, according to Dawn report.

Topline Securities said investors kept waiting for a clear market direction owing to the absence of any significant catalysts.

A day before, the index-100 had recorded some marginal gains. Arif Habib Ltd noted expectations of the index closing in on the green due to the upward trend of the rupee for 17 consecutive days, however, the index closed on a weak note.