ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Monday with the benchmark KSE-100 Index falling by 1,405.45 points amid selling pressure.
The market closed at 114,063.90 points compared to 115,469.35 points on the previous trading day.
A total of 423,938,288 shares were traded during the day as compared to 471,072,967 shares the last trading day, whereas the price of shares stood at Rs 26.458 billion against Rs 27.310 billion on the previous working day.
As many as 449 companies transacted their shares in the stock market, 93 of them recorded gains and 313 met losses, whereas the share price of 43 companies remained unchanged.
The three top trading companies were Bank of Punjab with 23,705,546 shares at Rs 9.30 per share, followed by Power Cement with 21,585,733 shares at Rs 13.29 per share whereas WorldCall Telecom settled with 18,309,847 shares at Rs 1.26 per share.
PIA Holding Company LimitedB witnessed a maximum increase of Rs 326.25 per share closing at Rs 3,608.54 whereas Unilever Pakistan Foods Limited was the runner-up with a Rs 260.00 rise in its share price to close at Rs 23,161.00.
Sazgar Engineering Works Limited witnessed a maximum decline of Rs 50.25 per share price, closing at Rs 1,309.74, whereas the runner-up Sapphire Textile Mills Limited with a drop of Rs 47.20 in its per share price to Rs 1,055.70.
“Today’s trading session witnessed a classic tug-of-war between bulls and bears. The index opened on a positive note, gaining strong momentum in the early hours to register an intraday high of 1,189 points.
However, the optimism proved short-lived, as intensified selling pressure later in the session caused the index to reverse sharply, touching an intraday low of 1,601 points,” brokerage house Topline Securities said in its post-market report.
“The prevailing negative sentiment was largely driven by escalating tensions between India and Pakistan, which heightened investor concerns and weighed heavily on overall market confidence,” it added.
Increased tensions between Pakistan and India following the Pahalgam attack kept the stock market under pressure, with the KSE-100 Index dropping by 1.57% over the past week.
Asian share markets and the US dollar opened cautiously on Monday, amid ongoing uncertainty surrounding US trade policy, as investors looked ahead to a week filled with key economic data and major tech earnings reports.
