Pakistan News

PSX continues in the red as benchmark index loses 390 points

PSX continues in the red as benchmark index loses 390 points

The Pakistan Stock Exchange (PSX) continued trading in the negative on Monday with the benchmark KSE-100 index losing 390 points to fall below the 45,700-level.

The index opened lower and continued on the downward trajectory to close at 45,682 points, touching a day's low of 45,610 on the way.

"The day kicked off on a negative note with market talk of a large block on offer in Oil and Gas Development Company Limited (OGDCL) PA -4.8% by a foreign holder at a discount," a note by Elixir Securities read. "Overall, activity in the wider market remained depressed as institutional investors remained sidelined."

Trading remained dull during the session with only 144.8 million shares worth Rs6.7 billion traded in the day. Of the 361 traded scrips, only 108 advanced, while 235 declined and 18 remained unchanged.

The chemical sector dominated trading by a margin with 23.6m shares traded.

Unity Foods Limited: 12.0m shares traded [+4.99pc];

K-Electric Limited: 10.3m shares traded [-0.98pc];

Engro Polymer and Chemicals Ltd: 9.8m shares traded [-2.17pc];

Lotte Chemical Pakistan Ltd: 7.3m shares traded [-2.50pc];

Matco Foods Limited: 6.7m shares traded [+1.97pc].

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