Bearish trend continues at PSX as KSE-100 sheds 116 points

It finally settled lower (-116.37 points) at 47,447.08.

KARACHI: It was another round of volatile trading at the Pakistan Stock Exchange (PSX) on Monday, with the indices swinging both ways in search of a clear direction before settling in the red.

The benchmark KSE-100 Index followed a volatile trajectory, recording its intraday high at 47,715.28 and intraday low at 47,407.85. It finally settled lower (-116.37 points) at 47,447.08.

The market started the day with an attempt at recovery to support some selective buying by some institutions and managed to push the Index in positive territory. However, the selling pressure proved much more decisive that pulled down the market back in negative.

Among other indices, the KMI-30 Index lost 212.02 points to end at 76,754.64, while the KSE All Share Index dropped 114.33 points, closing at 32,428.10.

Trading volumes declined to 474.99 million shares today as compared to 505.99 million shares during the previous trading day, while the daily traded value also moved down to Rs14.3 billion from Rs15.37 billion in the previous session.

The share price of Pakistan Tobacco increased by Rs45.44 to Rs1,300, while Mehmood Textile gained Rs40.90 to Rs587.90. On the other hand, Nestle Pakistan lost Rs215 today to close at Rs5,875 while Sapphire Textile lost Rs29.01 to close at Rs909.99.