The Pakistan Stock Exchange (PSX) experienced a negative session on Monday, with its benchmark KSE-100 Index closing in the red.
KSE-100 loses points: The KSE-100 began well, reaching a day high of 46,174.69. Profit-taking, however, halted the advances and sent the index into the red.
The benchmark index decreased by 147.76 points, or 0.32%, to close at 45,865.73.
Topline Securities, a brokerage firm, reported in its daily market report that “market sentiments was dull as investors remain cautious throughout the day.”
However, in anticipation of the announcement of the gas tariff hike, it noted, energy sector equities remained in the spotlight.
The index was unfavourably impacted by the banking, fertilisers, and E&P industries, which collectively dropped 148 points. On the other hand, the brokerage house reported that PPL, SNGP, and PSEL increased by 81 points as a result of some purchasing interest.
The stock market had a good session on Friday, with the KSE-100 Index closing more than 250 points higher thanks to the rupee’s strengthening versus the US dollar.
The Pakistani rupee continued to appreciate against the US dollar, strengthening for the fourth straight session to close at 301.16 on Monday in the interbank market.
The all-share index saw a rise in volume from Friday’s 149.57 million shares to 213.2 million shares today.
Share prices increased from Rs5.551 billion to Rs8.195 billion in the previous session.
With 59.316 million shares, Bank Al-Falah continued to have the highest volume, followed by K-Electric Ltd. with 14.653 million shares and Pak Petroleum with 11.683 million shares.
On Monday, investors traded shares of 306 businesses; among these, 114 shares increased in value, 172 decreased, and 20 remained unchanged.