KARACHI - Pakistan Stock Exchange witnessed another bearish session on Tuesday as continuous foreigner outflows and political uncertainty forced stock investors to trim their positions. The 100-share index lost 233.32 points and closed at 42292.67 points.

Pressure was seen in heavy-weight stocks such as UBL, HBL and HUBC which contributed 83 points to the fall in index.

INDU (down 2.07%) in the automobile sector continued its downward trajectory on the back of monthly auto sales number released by PAMA, which indicated a 26% YoY decline in the sales number for the month of Oct-2016. SNGPL (down 1.28%) extended its previous day’s loss, after government’s decision of no increase in gas prices was announced.

The battering was added by the court’s decision of a stay order against 10.5% UFG currently being collected by the gas utility from textile mills that are receiving RLNG, instead of 4.5% UFG, stated analyst at JS Global.

PIBTL (1.39%) gained as the progress report for the terminal was disseminated by the stock exchange, in which the company announced that the project was in line with the set deadlines.

Overall, volumes declined by 34% to 365m shares, while value decreased by 33.5% Rs11.7b/$112m. BOP was volume leader with 29m shares traded, followed by PIA with 24mn shares and Japan Power with 18m shares.