Bearish trend continues at PSX as index sinks 750 points

KARACHI: The Pakistan Stock Exchange (PSX) continued its downward march, with the benchmark index plunging over 750 points as the market reacted to developments on the economic and political front.

The benchmark KSE-100 index opened in the green, however, it could not hold on the higher level and gave way to selling pressure. At close, the KSE-100 index recorded a decrease of 752.74 points, or 1.7%, to settle at 43,548.21 points.

Overall trading volumes soared to 302.8 million shares compared with Friday’s tally of 266.8 million. The value of shares traded during the day was Rs13.4 billion. Shares of 391 companies were traded. At the end of the day, 61 stocks closed higher, 322 declined and eight remained unchanged.

TRG Pakistan was the volume leader with 24.6 million shares. It was followed by Dost Steels with 24.4 million shares and Silk Bank with 20 million shares.