Bearish sentiment prevailed at the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 index recorded a fall of 0.44%, while volume and value of shares traded declined from the previous session.
The benchmark index kicked off the session on a positive note, as the index surged 198 points to record an intra-day high of 46,737.87.
Engro Polymer and Chemicals Ltd's (EPCL) financial results boosted market sentiment, but profit-taking soon returned with the index dropping to 46,270.13, a decrease of 269 points.
At close, the KSE-100 Index settled at 46,333.36, a drop of 206.23 points or 0.44%.
“The depreciation of rupee against the US dollar dented investor confidence,” said Capital Stake in a note.
Rupee registered another massive fall against the US dollar, as it closed at 184.44 after a day-on-day depreciation of Rs1.90, or 1.03%, in the inter-bank market on Tuesday.
On a corporate front, Engro Polymer and Chemicals Ltd (EPCL) announced its 1QCY22 results wherein it posted a profit of Rs4.71 billion alongside an EPS of Rs5.19, an increase of around 14% YoY when compared to Rs4.14bn and an EPS of Rs4.56 recorded in 1QCY21.
KSE-100 succumbs to profit-taking, falls 0.13%
Sectors pulling the benchmark index lower included banking (87.29 points), oil and gas exploration (70.45 points), and technology and communication (49.8 points).
Volume on the all-share index decreased to 228.62 million from 255.61 million on Monday. The value of shares also declined to Rs8.84 billion from Rs9.64 billion recorded in the previous session.
Cnergyico PK was the volume leader with 18.33 million shares, followed by Ghani Global Holdings with 18.03 million shares, and WorldCall Telecom Limited with 11.55 million shares.
Shares of 345 companies were traded on Tuesday, of which 94 registered an increase, 226 recorded a fall, and 25 remained unchanged.
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