LAHORE: Following worldwide declines, Pakistan Stock Exchange (PSX) plummeted on Tuesday as the benchmark KSE-100 index closed 415.69 points in the red at 43,885.51 points.
This replicated a fall in regional stock markets across Asia, after Dow Jones experienced its largest ever one day point decline. The opening was as nervy, as the index plunged a touch over 800 points within 15 minutes of its opening on Tuesday morning.
Although, the index later recouped half its losses to close the session down 415.69 points from close on Friday. KMI-30 index also endured a nasty decline, as it plunged 2.75 percent during intra-day trading and closed 1.30 percent down 74,404.50 points.
Also, the KSE All Share Index also touched negative territory, declining 205.17 points by close of Tuesday’s session. The advancers to decliners ratio was recorded at 142:226.
And market volumes shrank down to 237.96 million compared against 284.16 million on Friday. Azgard Nine Limited registered 6.51 percent gain, as it was the chosen stock of investors and 24.96 million shares of it were exchanged during Tuesday’s session.
TRG Limited was the second most traded stock with 20.29 million shares exchanged and registered gains to the tune of 5.00 percent.
The sugar sector suffered the biggest decline, suffering a wipe-out of 2.23 percent fall in its market capitalization, followed by cement sector with 1.69 percent decline respectively.
Across Asia, stock markets on Tuesday dragged down with Nikkei benchmark index in Tokyo falling 7.1 percent before recouping some of those losses to close down 4.7 percent at 21,610.24 on Tuesday.
Hong Kong’s Hang Seng index dipped 4.1 percent to 30,938.85 and the Kospi in South Korea fell 1.4 percent to 2,458.06.
Most other regional share benchmarks gave up between 2 percent to 4 percent. The dollar weakened to 108.81 Japanese yen.
