PSX sheds 350 more points on Moscow-Kiev crisis

Following the global stock markets, the Pakistan Stock Exchange (PSX) tumbled on Tuesday amid Russia-Ukraine tension and the benchmark KSE-100 Index shed 350.7 points (-0.77 percent) to close at 45,012.18 points.

The market shed over 300 points for the second consecutive day, as on Monday it lost 313 points. The market opened on a negative note and remained negative for the entire session. However, robust corporate results of some companies limited the downside movement of the index, while value hunting was observed in the last trading hour, which led to a recovery in the market. Heightened geopolitical risks combined with rising rampant inflationary concerns have added to the pressure on stock in recent weeks.

The KSE-100 Index moved in a range of 664.4 points, showing an intraday high of 45,362.85 points and a low of 44,698.45 points. Among other indices, the KSE All Share Index shed 203.1 points (-0.65 percent) to close at 30,845.36 points, while KMI All Share Islamic Index shed 144.3 points (-0.64 percent) to close at 22,281.21 points.

A total of 353 companies traded shares in the stock exchange, out of them shares of 80 closed up, shares of 260 closed down while shares of 13 companies remained unchanged. Out of 94 traded companies in the KSE-100 Index, 22 closed up, 68 closed down and four remained unchanged.


TN Media News