PSX extends losses, sheds over 1,580 points

ISLAMABAD, Jul 29 (APP): The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) remained under selling pressure on Wednesday, losing 1,580.90 points, a negative change of 0.89 percent, to close at 176,042.99 points against 177,623.88 points recorded in the previous trading session.

The ready market witnessed a trading volume of 574.076 million shares, compared to 958.014 million shares traded on Tuesday, while the traded value declined to Rs25.369 billion from Rs41.566 billion. Market capitalisation also fell to Rs19.778 trillion from Rs19.951 trillion recorded a day earlier.

Out of 495 companies that traded in the ready market, 129 posted gains, 330 suffered losses, while 36 remained unchanged, reflecting a predominantly bearish trend across the market.

Cnergyico PK led the volume chart with 58.656 million shares, followed by Siddiqsons Tin with 50.224 million shares and WorldCall Telecom with 48.952 million shares.

Among the top gainers, Unilever Pakistan Foods Limited surged by Rs177.08 to close at Rs25,480.00, while Khyber Textile Mills Limited advanced by Rs90.12 to settle at Rs2,088.41.

On the losing side, PIA Holding Company LimitedB declined by Rs495.32 to close at Rs17,674.68, while Khairpur Sugar Mills Limited fell by Rs133.71 to Rs1,203.44.

In the futures (DFC) market, turnover stood at 400.821 million shares with a traded value of Rs18.079 billion, compared with 510.216 million shares worth Rs21.937 billion in the previous session.

Of the 304 companies traded in the futures market, 37 advanced, 266 declined and one remained unchanged.