How PSX turns bearish from bullish in a flash: Uncover the reasons!
psx
ISLAMABAD: (Suno News) The Pakistan Stock Exchange (PSX) turned bearish from bullish as its benchmark KSE-100 index lost 423.76 points on Tuesday.

Suffering a negative change of 0.45 percent, the index closed at 93,224.56 points as compared to 93,648.33 points on the last trading day, according to data available at PSX website.

The stock data revealed that as many as 792,904,878 shares were traded during the day as compared to 815,188,409 shares the previous trading day, whereas the price of shares stood at Rs 30.788 billion against Rs.37.324 billion on the last trading day.

It further revealed that a total of 454 companies transacted their shares in the stock market, 151 of them recorded gains and 242 sustained losses, whereas the share price of 61 companies remained unchanged.

The stock data revealed that The three top trading companies were Pak Int. Bulk with 79,861,776 shares at Rs 8.00 per share, K-Electric with 71,760,455 shares at Rs 5.13 per share and Pak Refinery with 56,364,168 shares at Rs.26.88 per share.

It maintained that Ismail Industries Limited witnessed a maximum increase of Rs.123.96 per share price, closing at Rs 1,639.50, whereas the runner-up was Sapphire Fibers Limited with Rs 46.55 rise in its per share price to Rs 1,175.63.

Services Industries Limited witnessed a maximum decrease of Rs 45.87 per share closing at Rs 1,160.19 followed by Philip Morris Limited with Rs 40.58 decline to close at Rs 789.50, according to the PSX report.

Meanwhile, a strong US Dollar is reducing the price of Gold, whilst competition from Bitcoin and stocks is also bearish, as per international media.

The per tola and 10-gram prices of 24-karat gold in Pakistan decreased by Rs7,000 to Rs270,500 and Rs6,000 to Rs231,911 respectively.