Bears drag index below 42,000 level

The KSE 100-index of the Pakistan Stock Exchange (PSX) once again witnessed a bearish trend on Tuesday, losing 489.93 points, with a negative change of 1.15 per cent, closing at 41,950.32 points against 42,440.25 points on the last working day.

A total of 169,707,409 shares were traded during the day compared to the trade of 118,986,341 shares on Monday, whereas the price of shares stood at Rs5.462 billion against Rs3.576 billion on the last trading day. As many as 318 companies transacted shares in the stock market, 94 of them recorded gain and 208 sustained losses, whereas the share price of 16 companies remained unchanged.

The three top trading companies were Pak Refinery with a volume of 15,739,555 shares and price per share of Rs15.74, Silk Bank Ltd with a volume of 14,667,500 and price per share of Rs1.39 and TLP Properties with a volume of 10,602,726 and price per share of Rs15.49.

Sapphire Tex witnessed a maximum increase of Rs34.15 per share, closing at Rs1,038.70, whereas the runner up was Gatron Ind, the share prices of which climbed up by Rs27.99 to Rs434.99.

Rafhan Maize witnessed maximum decrease of Rs100 closing at Rs9,800 followed by Sanofi-Aventis, the share price of which declined by Rs49.79 to close at Rs800.21.