PSX sheds 308 points on Trump’s statement – Daily Pakistan Observer –

Workers Reporter


KSE-100 index of Pakistan Inventory Trade (PSX) misplaced 308 factors on Monday on disappointment expressed by US President Donald Trump associated to Pakistan relations.
The index closed at 41,353 factors as towards 41,660 factors displaying a decline of 308 factors.
Analysts at Arif Habib Restricted stated that the market opened on a constructive word at the moment however couldn’t maintain the sentiment.
PM’s UAE go to was anticipated to end in realization of one other massive package deal and as a consequence of no clear announcement being made by the Govt., the traders appeared involved.
“As well as, Trump’s disappointment vis-à-vis Pakistan’s actions additionally brought about concern amongst traders,” the analysts stated.
Banks (HBL, UBL, MCB), Cement (LUCK, DGKC, MLCF) stored the market below stress. Apart from, E&P shares additionally went down, which added to the distress.
The index fell down by 420 factors throughout the session however bounced again to commerce under -300 factors for fairly a while. Chemical sector for the previous a number of classes has been main the charts and at the moment was no completely different. In complete, Chemical sector registered +40M quantity.
Sectors contributing to the efficiency embody Banks (-117 factors), Cement (-45 factors), Energy (-35 factors), E&P (-23 factors), Fertilizer (-23 factors).
Volumes declined farther from 201 million shares to 176 million shares (-13 % DoD). Common traded worth additionally declined by 33 % to succeed in $51.eight million as towards $77.three million.
Shares that contributed considerably to the volumes embody LOTCHEM, STPL, DSL, NRSL and PAEL reflecting 39 % of complete volumes.

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