PSX Update: Index sheds 256 points in early trade

PSX-100 has shed more than 250 points in the first few hours of trading, declining more than half a percent.

In recent news, Pakistan Bureau of Statistics announced that aims to rebase the inflation indices before the next year’s budget. Also, the government has cleared Rs 23 billion of its sales tax refunds that it announced in the incumbent budget.

PSX-100 is currently trading at 45723.42 points, with a loss of 256.28 points. Index reached a high of 46010.39 whereas a low of 45591.38 points.

Total volume traded as of 12:20 amounted to 34.8 million, whereas the value traded has totaled to 4.25 billion.

Volume leaders in the morning session: Azgard Nine Ltd., TRG Pakistan, Aisha Steel Ltd., Pak Elektron Ltd. and Maple Leaf Cement Factory.

Sectors with most turnover in early trade include; Engineering, Textile Composite, Commercial Banks, Technology and Communication & Cement.