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KARACHI: Bears returned to the Pakistan Stock Exchange (PSX) on Monday, as the benchmark KSE-100 Index failed to hold on to early gains and ended in the negative.
In the morning, the market opened downwards and fell sharply in earlier trading. Some stability emerged at midday, but it could not be sustained. Late session selling dragged the market further into negative territory.
At close, the benchmark KSE-100 index recorded a decrease of 186.15 points, or 0.42%, to settle at 44,076.20 points. Stocks that contributed negatively were TRG Pakistan (-130 points), Hubco (-28 points), Nishat Mills (-23 points), Azgard Nine (-16 points), and Lucky Cement (-15 points).
Overall trading volumes stood at 238 million shares where Unity Foods (+4.1%), Telecard Limited (-7%), Ghani Global Holdings (-7%), TRG Pakistan (-7.1%) and WorldCall Telecom (-2.1%) were the volume leaders.
The value of shares traded during the day was Rs11.3 billion. Shares of 360 companies were traded. At the end of the day, 111 stocks closed higher, 238 declined and 11 remained unchanged.