Karachi: Despite positive economic indicators, the Pakistan Stock Exchange (PSX) experienced a downturn on Monday, breaking a six-day rally and causing the index to fall below the psychological level of 82,000 points. The decline led to a drop in the prices of 54% of shares, resulting in a loss of approximately PKR 14.86 billion for investors.
Trading began positively, with the index rising by as much as 389 points at one stage. However, following the Supreme Court’s detailed ruling on specific seats, a trend towards immediate profit-taking emerged, leading to a flurry of share offloading that turned the earlier gains into losses.
At one point, the market saw a decline of 526 points. Nonetheless, as buying activities picked up at lower prices during the closing moments, the intensity of the downturn lessened. Consequently, the KSE-100 index closed down by 223.95 points at 81,850.50 points.
The KSE-30 index fell by 56.93 points to close at 25,977.37 points, while the KSE All Share index decreased by 72.60 points to settle at 52,216.26 points. The KMI 30 index also dropped by 2,193.28 points, ending at 128,368.34 points.
The trading volume was 17% lower compared to last Friday, with a total of 403,907,071 shares traded. Trading activities were limited to 439 companies, of which 143 saw price increases, 237 experienced price declines, and 59 remained stable.
