PSX: Bearish trend continues over Panama case verdict talk

KARACHI: Concerns over the political climate and chatter regarding the expected Panama case verdict have prolonged bearish sentiment at the Pakistan Stock Exchange for the third consecutive day.

A lack of clarity over margin financing products has also led investors to be cautious.

The benchmark index registered a peak and trough of 58 and 323 points, respectively, with the index closing at 47,356.60 points (-0.46%).

Invest & Finance Securities Limited CEO Muzzammil Aslam said that the overall participation remained thin, with only 146 million shares traded against a 10-days moving average of 239 million shares (traded value $78.36mn vs. 10-day average $103.03mn).

Key index drivers for the session were SSGC (+4.98%, US$0.92mn), SHEL (+3.42%, US$1.41mn), and KTML (+1.87%, US$0.12mn), cumulatively adding 1.92% to the broader index.

The volumetric scripts specific chart was topped by TRG (-2.30%, US$5.02mn) followed by ANL (-3.13%, US$1.17mn) and BOP (+0.52%, US$0.85mn).

Top value leaders for the day were SNGP (+0.13%, US$5.26mn) followed by TRG (-2.30%, US$5.02mn) and CSAP (-1.56%, US$4.27mn).