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, sources reported.
Of 499 companies traded, 163 rose, 302 fell and 34 were unchanged.
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.
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.
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.