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KARACHI: The Pakistan Stock Exchange (PSX) witnessed mayhem on Monday as the benchmark KSE-100 index shed over 1,000 points at the start of the day.
The market began its slide soon after opening at 42,424.48 points, with the benchmark KSE-100 index down 1,111 points or 2.55% by 10:10 am. The bourse reached its lowest point of 42,375.39 points before mid-day.
Pakistan Stock Exchange remained under severe selling pressure during the outgoing week ended on May 13 due to investor’s concerns over prevailing economic and political issues in the country.
The benchmark KSE-100 index plunged by 1354.35 points on week-on-week basis and closed below 44,000 psychological-level at 43,486.46 points.
Average daily trading volumes on ready counter however increased by 44.6 percent and stood at 274.04 million shares as compared to previous week’s average of 189.48 million shares while average daily traded value increased by 42.7 percent to Rs 8.08 billion.
KSE-100 Index100 decreased by 181.06 points during this week to close at 4316.71 points with average daily turnover of 248.366 million shares.
The lower KSE 30 declined by 1093.92 points to close at 15001.44 points with average daily trading volumes of 168.646 million shares.
Total market capitalization declined by Rs 244 billion during this week and stood at Rs 7.199 trillion. The negative sentiments were added by consistent depreciation in the Pakistani rupee against the US dollar, closing at its all-time low of 193 this week.
