ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a negative session on Monday as the 100-index lost 404.12 points (0.97 %) and settled at 41,195.07 with sluggish volume where the third-tier equities were in the leading run.
WorldCall Telecom topped the run with a leading volume of 11.45 million shares, K-Electric Limited settled as runner-up with 9.58 million shares, and Air Link Communication settled 5.19 million shares.
On the first day of the week, 314 shares of different companies were traded, 74 registered an increase while 215 sustained a loss, and 25 traded their shares without a change.
Throughout the day the market remained under pressure due to uncertain political and financial scenarios followed by a delay of the IMF tranche for the 9th review.
Bearish Trend at PSX
Leading sectors in the market, including automobile, chemical, cement, commercial banks, OMCs, and oil & gas exploration companies, remained in the red zone and remained in the bearish trend due to the ongoing uncertain situation and the government’s inability to resume the bailout program, being delayed since November.
Meanwhile, the continued devaluation of the local currency (for the fourth successive session), particularly in the open market, kept the market under a bearish trend as more sectors were confined to the selling zone.
Meanwhile, total Volume declined to 97.7 million compared to 120.4 million on Friday, while the value of traded shares went down to Rs2.8 billion against Rs3.3 billion the last day.
