Stock market declines by 486.82 points, trading volume sees uptick

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark 100-index experienced a decline of 486.82 points on Tuesday, reflecting a 0.62 per cent decrease, and closed at 78,084.24 points, down from the previous close of 78,571.06 points.

The day’s trading volume amounted to 591,511,522 shares, a rise from the 512,337,206 shares traded on the prior trading day. The total value of traded shares dropped to Rs 17.177 billion compared to Rs 18.894 billion previously.

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A total of 436 companies participated in the trading session, with 163 registering gains, 222 recording losses, and 51 maintaining their previous share prices.

The market is still jittery over the International Monetary Fund’s (IMF) delay in approval of the loan. However, Finance Minister Muhammad Aurangzeb and State Bank of Pakistan (SBP) Governor Jameel Ahmed have both confirmed that Pakistan is in talks with Middle Eastern banks to secure loans to fulfil IMF’s conditions for the loan approval.