Daily Times

The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 1,141.50 points, a negative change of 1.46 percent, closing at 77,084.49 points against 78,225.98 points on the last working day.

A total of 501,191,841 shares were traded during the day as compared to 443,483,358 shares the previous day, whereas the price of shares stood at Rs 21.057 billion against Rs 20.497 billion on the last trading day.

As many as 442 companies transacted their shares in the stock market, 129 of them recorded gains and 261 sustained losses, whereas the share price of 52 companies remained unchanged.

The three top trading companies were Kohinoor Spinning with 86,045,086 shares at Rs 5.41 per share, Yousuf Weabing with 32,793,243 shares at Rs 4.14 per share and WorldCall Telecom with 32,793,243 shares at Rs 1.21 per share.

Ismail Industries Limited witnessed a maximum increase of Rs 66.98 per share price, closing at Rs 1,418.08, whereas the runner-up was Khyber Textile Mills Limited with a Rs 37.21 rise in its per share price to Rs 410.08.

Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs 149.50 per share closing at Rs 17,850.50 followed by Sapphire Fibres Limited with a Rs 117.96 decline to close at Rs 1,480.10.

Experts called the bearish momentum at PSX “in line with global markets”, adding that “selling was observed at PSX though with less intensity”.

He said that local investors remain on the sidelines until the “dust settles down on global markets”.

“The market has reacted to a global sell-off on fears of a slowdown in the US and a rate hike by the Bank of Japan,” they added.