The Pakistan Stock Exchange (PSX) turned bearish on Tuesday amid profit-taking owing to roll-over week and the benchmark KSE-100 Index shed 389.90 points (-0.85 percent) to close at 45,292.87 points. The KSE-100 Index traded in a range of 767.8 points, showing an intraday high of 45,937.6 and a low of 45,169.8. Among other indices, the KSE All Share Index shed 210.73 points (-0.68 percent) to close at 30,635.26 points, while All Share Islamic Index shed 228.47 points (-1.03 percent) to close at 21,882.43 points. A total of 395 companies traded shares in the stock exchange, out of them shares of 188 closed up, shares of 191 closed down while shares of 16 companies remained unchanged. The overall market volumes decreased by 42.28 million to 366.80 million shares, while market capitalisation decreased by Rs54.18 billion. The number of total trades decreased by 12,438 to 130,691, and value traded decreased by Rs6.64 billion to Rs17.33 billion. Among scrips, TELE topped the volumes with 48.1 million shares, followed by UNITY (43.4 million) and FLYNGR (26.5 million). Stocks that contributed significantly to the volumes include TELE, TRG, UNITY, SILK and GGL, which formed 41 percent of total volumes. Sector wise, the index was let down by oil & gas exploration companies with 182 points, fertilizer with 58 points, oil & gas marketing companies with 50 points, cement with 45 points and power generation & distribution with 34 points. The most points taken off the index was by OGDC which stripped the index of 71 points followed by PPL with 59 points, ENGRO with 46 points, POL with 44 points and PSO with 40 points. The sectors propping up the index were investment banks/ investment companies/ securities companies with 14 points, refinery with 13 points, food & personal care products with 12 points, insurance with 12 points and textile composite with 9 points. The most points added to the index was by NRL which contributed 14 points followed by DAWH with 14 points, HBL with 12 points, AICL with 11 points and ICI with 11 points. Analysts at Arif Habib Limited said that excitement observed on Monday withered away when the benchmark index saw a decline of 513 points during the session. The scrips that saw selling included OGDC, PPL, PSO which performed well the other day. Investor sentiment remained at a low ebb throughout the session with persistent selling in O&GMCs, E&P, cement and steel sectors. According to a closing note by Aba Ali Habib Securities, apart from roll-over week, investors booked profits following strong earnings announcements which led to KSE-100’s gradual decline in the red zone. Overall, investors remained anxious over the worsening Covid-19 situation. In addition, government hints at bringing sales and income tax reforms in response to satisfy IMF’s stringent conditions and increase FBR’s revenue generation further dampened investors’ sentiments, said the analysts. Furthermore, the recent depreciation track of Pakistani rupee against the US dollar also tested investors’ confidence, it added.