The 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 482.71, showing an increase of 0.31 percent, closing at 157,554.66 points against 158,037.37 points on the previous trading day.
A total of 1,665,972,171 shares valuing Rs.60.902 billion were traded during the day as compared to 2,047,812,574 shares valuing Rs. 69.273 billion on the last trading day, showing an increase in both volume and value.
As many as 483companies transacted their shares in the stock market; 209 recorded gains and 252 sustained losses, whereas the share prices of 22 remained unchanged.
The three top trading companies were K-Electric Limited with 236,012,044 shares at Rs.6.11 per share, followed by Bank of Cnergyico PK with 158,719,962 million shares at Rs.8.54 per share, and Bank of Punjab with 126,794,196 shares at Rs.25.98 per share.
The top gainers were PIA Holding Company LimitedB, which increased by Rs.431.62 to close at Rs.24,801.15, and Supernet Technologies Limited, which rose by Rs.107.50 to close at Rs.1,182.52.
The major losers were Khyber Textile Mills Limited, which declined by Rs.91.32 to close at Rs.2,251.50, and Rafhan Maize Products Company Limited, which fell by Rs.47.10 to close at Rs.9,542.07.
In the futures market, 463,633,000 shares were traded as compared to 405,170,000 shares on the previous trading day, while the total value stood at Rs.33.247 billion against Rs. 18.168 billion previously.
Separately, stocks mostly fell on Monday as investors booked profits from a record-setting streak and looked for clues to the US Federal Reserve’s next interest rate move.
Stock indices pulled back at the start of trading in New York after having had set fresh records yet again on Friday following the Fed’s resumption interest rate cuts.
“A consolidation trade is afoot after another sprint this month,” said Briefing.com analyst Patrick O’Hare, as the S&P 500 index has gained 3.2 percent in September and the Nasdaq Composite 5.5 percent.
The stock market is “likely experiencing a profit-taking breather”, he added.
Global equities have enjoyed a healthy run-up in recent months on optimism that the US central bank will lower borrowing costs several times before the end of 2025 over worries about a softening labour market.
On the heels of recent economic reports showing weaker US jobs growth, the Fed last week lowered borrowing costs by 25 basis points, its first reduction this year.
Investors will be listening for what Fed policymakers will have to say during public appearances this week.
They will also be waiting for the release on Friday of the personal consumption expenditures (PCE) price index, which is the Fed’s preferred measure of inflation.
“The big market moving announcement is likely to be the US PCE inflation report,” said AJ Bell investment director Russ Mould.
The dollar fell against major rivals as the US interest rate cut weighed on the greenback, while the price of gold hit a fresh high.
Crude oil prices fell around one percent as traders focused on concerns production will outstrip demand.
In Europe, Frankfurt and Paris stock indices dropped in early afternoon deals, while London edged out a gain.
As the new trading week kicked off, investors took some heart from talks between US President Donald Trump and Chinese leader Xi Jinping on Friday.
Trump said progress was made “on many very important issues”, including a deal to sell blockbuster social media app TikTok. He added that the pair would meet on the sidelines of an Asia-Pacific Economic Cooperation summit in South Korea at the end of next month and that he would travel to China next year.
“While lacking apparent substance… (the meeting) does look to have helped create a positive atmosphere to enable extension of the ongoing US-China detente,” said National Australia Bank’s Ray Attrill.
Mumbai edged down as India’s $283-billion tech sector took a hit after Trump on Friday ordered an annual $100,000 fee be added to new H-1B skilled worker visas, creating potentially major repercussions for the tech industry where such permits are prolific.