KARACHI: The Pakistan Stock Exchange (PSX) ended Monday in the red as subdued sentiment and persistent selling in key sectors kept investors cautious, with the benchmark KSE-100 index unable to hold an intraday recovery, The Express Tribune reported.
Key points
- The index fell 453.63 points to close at 165,966.09
- The intraday high was 166,698.46 and the low 165,918.35
- Overall volume fell to 370.9 million shares from Friday's 396.9 million
- Of 499 companies traded, 163 rose, 302 fell and 34 were unchanged
A choppy session
The market opened weak, with the index down 298.81 points at 166,120.90 by 9:38am. It recovered to an intraday high of 166,698.46, but the rebound faded and the index slipped to a low of 165,918.35 before closing in negative territory.
Where the action was
According to KTrade Securities, activity was concentrated in Pakistan Refinery, Cnergyico PK, TPL Trakker, Worldcall Telecom and Saif Power, while selective buying in MCB Bank, Attock Refinery, Pakistan Oilfields, TRG Pakistan and Bank Alfalah lent partial support.
Pak Refinery led the volumes with 53 million shares, gaining Rs1.86 to close at Rs108.81. The value of shares traded stood at Rs19.56 billion.
What next
KTrade expects the market to stay cautious and range-bound in the near term, with direction depending on global oil prices, geopolitical developments and corporate earnings.
More on The Express Tribune.