Pakistan's benchmark KSE-100 was down 0.84% on Tuesday, as investors remained concerned over rising commodity prices in the international market with index-heavy cement stocks coming under pressure.
The index was unable to sustain the 45,000 level, and dropped soon after trading began, hitting an intra-day low of 44,593.75 (down 450.75 points).
At close on Tuesday, the KSE-100 decreased 377.93 points or 0.84% to settle at 44,666.57.
“Investors remained concerned over high international commodity prices where a rally in coal prices led the cement sector to decline further,” said Topline Securities in its post-market comment.
The drop also comes a day after trade figures revealed that the deficit widened by 100.6% to $11.664 billion during the first quarter (July-September) of the current fiscal year.
KSE-100 settles above 45,000 after 173-point gain
Sectors dragging the benchmark KSE-100 lower included cement (157.23 points), technology and communication (121.54 points), and fertiliser (39.23 points).
Volume on the all-share index, however, increased from 267.22 million on Monday to 334.69 million on Tuesday. The value of shares also recorded an increase, amounting to Rs13.54 billion from Rs10.1 billion on Monday.
Telecard Limited was the volume leader with 30.37 million shares, followed by Azgard Nine with 19.56 million shares, and Ghani Global Holdings with 18.57 million shares.
Shares of 564 companies were traded on Tuesday, of which 211 registered an increase, 342 recorded a fall, while 11 remained unchanged.
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