ISLAMABAD: Continuing its downward trend, the 100-index of the Pakistan Stock Exchange (PSX) shed 680.08 points on Monday with a negative change of 1.65 per cent, closing at 40,621.22 points compared to 41,301.30 points on the last trading day.
Mostly the top-tier companies avoided buying and remained in the red zone probably due to the uncertain situation over the talks with the IMF to unlock the pending instalment of $1.1 billion. The current program with the IMF is scheduled to end on the 30th of this month.
During trading, a total of 179,780,375 shares were transacted as compared to 156,023,085 shares the previous day, whereas the price of shares stood at Rs.5.624 billion against Rs. 3.746 billion on the last trading day.
Major Bearish Trend
During last week, the index went down slightly. However, due to the uncertain situation, the index suffered a major blow of about 700 points loss in a single day.
At the start of the week, 320 companies traded their shares in the stock market, where just 54 of them recorded gains and 224 sustained losses while the share price of 320 companies remained unchanged.
WorldCall Telecom stood as the top trader with 27,671,924 shares at Rs.1.12 per share and K-Electric Ltd with 11,375,247 shares at Rs.1.58 per share followed by Cnergyico PK with 9,338,326 shares at Rs.2.91 per share.
Colgate PalmXDXB witnessed a maximum appreciation of Rs.76.72 per share price, closing at Rs.1,287.05, whereas Mehmood Tex settled as the runner-up with an increase of Rs.74.33 in its per share price to Rs.1,065.33.
Bhanero Tex recorded a maximum decline of Rs.80.00 per share closing at Rs.955.00, followed by Bata (Pak) with a decline of Rs.64.00 to close at Rs.1,736.00.
