PSX slips into red after gaining nearly 500 points

KARACHI: The Pakistan Stock Exchange (PSX) opened in the green on Tuesday, with the benchmark KSE-100 index trading at 112,475.20 points by 9:25 AM, reflecting a gain of 488.32 points. The trading volume at that time stood at 1,754,843 shares.

However, the PSX failed to maintain the early gains and dropped by 168.29 points, settling at 111,818.59 points around 9:46 AM, with the trading volume increasing to 10,889,797 shares.

Among the KSE-100 companies, several were trading in the red, experiencing losses. HBL Growth Fund (HGFA) declined by 4.63 per cent, or Rs0.44, to Rs9.06. Murree Brewery Company Limited (MUREB) was down by 4.27 per cent, or Rs32.56, to Rs730. Adamjee Insurance Company Limited (AICL) fell by 4.52 per cent, or Rs2.20, to Rs46.53. Pakgen Power Limited (PKGP) dropped by 2.52 per cent, or Rs3.10, to Rs120, while Air Link Communication Limited (AIRLINK) saw a decrease of 4 per cent, or Rs6.98, to Rs167.30.

On the other hand, companies trading in the green included EFU General Insurance Limited (EFUG), which rose by 3.22 per cent, or Rs3.99, to reach Rs127.97. Bannu Woollen Mills Limited (BNWM) gained 3.09 per cent, or Rs1.06, to close at Rs35.40. Tariq Glass Industries Limited (TGL) was up by 2.81 per cent, or Rs4.77, closing at Rs174.50, while Kohat Cement Company Limited (KOHC) increased by 1.79 per cent, or Rs7.11, to Rs405.

Looking at the one-year performance, the KSE-100 index is currently up by 69.94 per cent. However, it has decreased by 2.65 per cent year-to-date (YTD). The 52-week range for the PSX is between 63,856.51 and 118,735.10 points.

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