PSX turns bearish, loses 1,493 points

ISLAMABAD, Nov 6 (APP):The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) reversed its positive momentum on Friday, losing 1,493.18 points, a negative change of 0.85 percent, to close at 173,886.69 points against 175,379.87 points recorded in the previous trading session. The ready market witnessed a trading volume of 1,479.999 million shares, compared to 999.812 million shares traded in the previous session. However, the traded value of the ready market decreased to Rs22.572 billion, down from Rs46.062 billion a day earlier. Meanwhile, total market capitalisation fell to Rs18.909 trillion from Rs19.113 trillion recorded in the previous session. Out of 500 companies that traded in the ready market, 190 posted gains, 277 suffered losses, while 33 remained unchanged, reflecting a bearish trend across the overall market. Bawany Air(R) led the volume chart with 687.381 million shares, followed by Tasdeeq Information with 140.783 million shares, and WorldCall Telecom with 72.154 million shares. Among the top gainers in the ready market, Unilever Pakistan Foods Limited surged by Rs291.00 to close at Rs25,994.00, while Pakistan Services Limited advanced by Rs113.46 to settle at Rs1,248.07. On the losing side, Rafhan Maize Products Company Limited declined by Rs101.26 to close at Rs8,399.99, while Sapphire Textile Mills Limited fell by Rs48.66 to Rs1,559.34. In the futures (DFC) market, turnover stood at 135.948 million shares with a traded value of Rs5.877 billion, compared with 242.975 million shares worth Rs12.638 billion in the previous session. Of the 306 companies traded in the DFC market, 66 advanced, 235 declined, and 5 remained unchanged.