KARACHI: Pakistan Stock Exchange (PSX) on Monday remained in red and the benchmark KSE-100 index while dropping 449 points extended losses for a second session.
The market opened in green but soon the selling pressure dragged in to negativity and as a result, the KSE-100 index fell 449.81 points or 1.06% to close at 41,859.3 points
The market fell steadily throughout the session and closed below the psychological level of 42,000 points.
Index-heavy automobile, cement, banks, fertiliser and oil sectors closed with massive losses.
A report from Capital Stake stated that bears took charge of the PSX on Monday with the benchmark KSE-100 index falling below 42,000.
Sectors driving the benchmark KSE-100 south included banking (68.28 points), technology and communication (67.31 points) and cement (50.96 points).
Volume on the all-share index receded to 156.8 million from 160.1 million on Friday. On the other hand, the value of shares traded inched lower to Rs4.37 billion from Rs4.63 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 14.8 million shares, followed by Pak Refinery with 12.79 million shares and Hascol with 12.77 million shares.
Shares of 340 companies were traded on Monday, of which 68 registered an increase, 253 recorded a fall, and 19 remained unchanged.
