Pakistan Stock Exchange (PSX) on Monday witnessed a bearish trend and the benchmark KSE-100 Index dropped 881.55 points with a negative change of 0.74%, closing at 118,221.12 points against 119,102.67 points in the previous session.
A total of 348,804,683 shares were traded during the day as compared to 338,003,666 shares the previous trading day, whereas the price of shares stood at Rs 11.990 billion against Rs 18.511 billion on the last trading day.
As many as 467 companies transacted their shares in the stock market, 1188 of them recorded gains, and 235 sustained losses, whereas the share price of 44 companies remained unchanged.
Selling pressure was seen in key sectors including automobile assemblers, oil and gas exploration companies, OMCs, and power generation. Index-heavy stocks, including HUBCO, OGDC, PPL, POL, MARI, PSO, and SSGC, traded in the red.
During the previous week, the PSX remained under persistent pressure as investors adopted a cautious stance ahead of the upcoming federal budget amid growing concerns about proposed tax measures, which led to a continued downward trend in the market.
