Follow Us on Google News
KARACHI: Pakistan Stock Exchange (PSX) opened the week on a dismal note on Monday and witnessed a laclustre trading session amid a lack of positive indicators.
The benchmark KSE-index failed to recapture the 44,000 points table and reached its highest point of 43,767.33 points. The bourse eventually slid in later day trading and closed after losing 286.44 points (-0.66%) at 43,366.89 points. The total volume of shares was 43.211 million valued at Rs2.802 billion.
Of the 91 traded companies in the KSE-100 Index, 24 closed up 66 closed down, while one remained unchanged. Sector-wise, the index was let down by Oil & Gas Exploration companies with 58 points, Commercial Banks with 57 points, Cement with 57 points, Technology & Communication with 52 points and Power Generation & Distribution with 29 points.
The lower bench KSE-30 index dropped by 155.29 points (-0.91%) and closed at 16,820.79 points. The total volume of shares was 37.586 million. The KMI 30 index closed at 70,001.12 points after declining by 643.89 points (-0.91%), while the All Share Index gained 199.74 (-0.67%) and closed at 29,773.06 points. The total volume of share traded were 115.018 million at the stock market.
The highest number of shares traded belonged to Flying Cement (FLYNGR -38.46) which traded 11.632 million shares. This was followed by Pak Elektron (PAELR3 9.89%), Ghani Global (GGL -4.18%) and Telecard Ltd (TELE -8.44%). The number of scrips traded were 8.140 million, 7.022 million, and 6.309 million, respectively.
The Pakistani rupee (PKR) joined back its downward course, depreciating by 47 paisa against the US dollar as the currency closed the trade at an all-time low of Rs178.98.
The persistent volatility on the international and domestic fronts continued to impact investor sentiments coupled with a fresh rise in global commodity prices.
Market players stayed on the sidelines as the trading volume and value remained thin on the first day of the week. A selling spree during the final hour further pulled the index down and ended on a negative note.
