KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish trend on Monday as the benchmark KSE-100 index shed 1,510.72 points at the closing of the market, ARY News reported.
The 100-Index of the Pakistan Stock Exchange (PSX) losing 1,510.72 points, a negative change of 1.32 percent, closing at 112,745.01 points as compared to 114,255.73 points on the last trading day.
A total of 401 million shares were traded during the day as compared to 543 million shares the previous trading day, whereas the price of shares stood at Rs20.35 billion against Rs27.973 billion on the last trading day.
Analysts at Topline Securities attributed this negative trend to the global downturn on tariff concerns despite low inflation data, saying that the investor sentiment was largely influenced by the growing concerns over escalating trade tensions and the potential impact on global economic stability.
They said, “The KSE-100 Index mirrored the trend in global markets today, reacting negatively to the news that U.S. President Donald Trump had ordered sweeping tariffs on goods from Mexico, Canada, and China. This announcement created a ripple effect in international markets, and the local market followed suit”.
As many as 450 companies transacted their shares in the stock market, 137 of them recorded gains and 262 sustained losses, whereas the share price of 51 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 26 million shares at Rs1.63 per share, Bank of Punjab with 24 million shares at Rs10.23 per share and Ghani Chemical with 22 million shares at Rs20.03 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs77.83 per share closing at Rs22,383 whereas runner-up was Sazgar Engineering Works Limited with Rs 39.19 rise in its share price to close at Rs1,063.
Sapphire Fibres Limited witnessed a maximum decrease of Rs68.45 per share price, closing at Rs 1,060.55, whereas the runner-up was Rafhan Maize Products Company Limited with Rs 65.30 decline in its per share price to Rs9,483.33
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