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PSX witnesses bearish trend, loses 1,250 points

The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Monday, losing 1,250.06 points, with a negative change of 2.77 per cent, closing at 43,902.05 points against 44,152.11 points on the last working day.

A total of 170,486,035 shares were traded during the day compared to the trade of 389,113,139 shares the previous day whereas the price of shares stood at Rs5.497 billion against Rs11.107 billion on the last trading day.

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As many as 305 companies transacted shares in the stock market, 26 of them recorded gains and 268 sustained losses, whereas the share price of 11 companies remained unchanged.

The three top trading companies were Telecard Limited with a volume of 17,396,535 shares and price per share of Rs13.86, K-Electric Ltd with a volume of 16,012,000 and price per share of Rs 2.92 and TLP Properties with a volume of 12,559,368 and price per share of Rs19.26. Colgate Palm witnessed a maximum increase of Rs99.98 per share, closing at Rs2,299.99 whereas the runner up was Otsuka Pak, the share prices of which climbed up by Rs17.01 to Rs244.70.

Sapphire Tex witnessed a maximum decrease of Rs75.01 closing at Rs933.51 followed by Sapphire Fiber, the share price of which declined by Rs66.79 to close at Rs830.

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