PSX Plunges To 3-year Low With 1.9% Decline

(@mahnoorsheikh03)

PSX plunges to 3-year low with 1.9% decline

At least Rs110 billion of the investors have been lost due to decline in the value of shares.

Islamabad (Pakistan Point News – 23rd April, 2019) The pakistan stock exchange (PSX) has plunged to a three-year low.

The investors have lost billions of rupees as a two per cent decline has been recorded in the business at PSX.

Media reports said that KSE 100 index plunged by 536 points (-1.9 per cent), coming to a three-year low. At least Rs110 billion of the investors have been lost due to decline in the value of shares.

The psx continues to show a downward trend on the second day of the business week.

On Monday, the PSX witnessed bearish trend as KSE 100 index plunged by 390.78 points (-1.05 percent) to close at 36,901.69 points.

In overall 47,444 trades, a total of 125,964,210 shares were traded, whereas the value of shares traded during the day stood at Rs 4.431 billion.

Out of 305 companies, share prices of 62 companies recorded increase while 227 companies registered decrease whereas 16 companies remained stable in today's trading.

The three top traded companies were Lotte Chemical with a volume of 19,719,000 and price per share of Rs 16.08, Pioneer Cement with a volume of 10,608,500 and price per share of Rs 25.22 and K. Electric Ltd with a volume of 10,146,500 and price per share of Rs 4.81.

The top advancer was Faisal Spinning with the increase of Rs 11.16 per share, closing at Rs 249 while Blessed Textile was runner up with the increase of Rs 9.98 per share, closing at Rs 260.

The top decliners were Rafhan Maize XD with the decrease of Rs 344.99 per share, closing at Rs 6850.01 and Nestle Pakistan XD with the decrease of Rs 111 per share closing at Rs 7789.

Mahnoor Sheikh

The writer is News Editor, Pakistan Point. She has graduated in Mass Communication and has worked in various media houses