PSX loses 394 points

Karachi: The Pakistan Stock Exchange's (PSX) 100-index saw a negative trend on Tuesday, losing 394.77 points to close at 45,491.48 points as opposed to 45,707.42 the day before, a decrease of 0.47 percent.

A total of 55,028,384 shares were traded today as opposed to 139,251,269 the day before. The trading value of the shares was Rs3.047 billion as opposed to Rs4.476 billion the day before.

The 296 companies that exchanged shares on the stock market saw 103 gains, 164 losses, and 29 companies with stable share prices.

Earlier, the benchmark 100-index was up 419 points, or trading at 45,732, as the market appeared to have fresh buying activity.

The stock market experienced a sharp decline last week as a result of significant selling prompted by concerns over the depreciating rupee and potential future interest rate hikes.

On a weekly basis, the benchmark KSE-100 index fell 2,358.56 points and ended the week at 45,312.66 points.

However, buying was witnessed in index-heavy sectors on Monday with automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies and OMCs trading in positive.