PSX loses another 247 points

KARACHI - Dull trading was seen at the stock market on Thursday as investors booked profits. Pakistan Stock Exchange’s benchmark KSE 100-share index continued its downward trend, falling by 247.42 points (down 0.8%) to close at 32,710.56 points level.
Volumes fell 34% to 135 million shares while traded value also dropped 24% to Rs6.8b/$65.3m.Fertilizer sector stocks came under pressure after parliamentarian committee proposed to lower local fertilizer prices. Engro Fertilizer (EFERT), Fauji Fertilizer (FFC) and Fatima Fertilizer (FATIMA) fell 1.4-3.3%, dealers said.
Shell Pakistan (SHEL) fell 3.3% after announcing year-end results of Rs8.5/share along with a cash dividend of Rs10.
Total 340 active companies participated in the session of which 212 concluded in decline, 114 in advance while 14 remained unchanged. Above average volume was seen in Dewan Cement (DCL) and P.T.C.L. (PTC) with 14.5mn and 7.6m shares, respectively.

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