PSX stays bearish, loses 4,687 points

ISLAMABAD: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 4,687.51 points, a negative change of 3.05 percent, closing at 149,178.66 points compared to 153,866.17 points on the previous trading day, according to PSX data.

During the session, the ready market recorded a trading volume of 298.270 million shares with a traded value of Rs 20.185 billion, against 303.016 million shares valuing Rs 14.690 billion in the previous session. Market capitalization decreased to Rs 16.825 trillion from Rs 17.329 trillion a day earlier.

Out of 474 active companies in the ready market, 90 advanced, 324 declined, and 60 remained unchanged.

K-Electric Limited topped the volume chart with 18.424 million shares, followed by National Bank with 17.860 million shares and The Bank of Punjab with 17.492 million shares.

The top gainers included Blessed Textiles Limited, which rose by Rs 52.23 to close at Rs 574.50, and Bhanero Textile Mills Limited, which gained Rs 50.00 to settle at Rs 910.00.

On the losing side, PIA Holding Company LimitedB declined by Rs 596.00 to close at Rs 16,050.00, while Unilever Pakistan Foods Limited fell by Rs 438.84 to close at Rs 24,217.38.

In the futures market, turnover stood at 90.270 million shares with a traded value of Rs 7.738 billion, compared to 71.751 million shares worth Rs 4.057 billion in the previous session. Out of 337 futures-market companies, 23 recorded gains, while 313 declined and one remained unchanged. APP