Bloodbath at PSX; index plunges 1,221.55 points
Of 92 traded companies in the KSE100 Index 2 closed up 88 closed down, while 2 remained unchanged
KARACHI (Dunya News) – A staggering sum of Rs180 billion was wiped off the market capitalisation at the Pakistan Stock Exchange (PSX) in a single day where the KSE-100 index fell 1221.55 points and sank way below the 41,000-level at 40,409.38 on Monday.
The KSE 100 index came crashing down as investors offloaded stocks as the rising prices of commodities eroded profits. The bourse declined 1221.55 points, or a decrease of 3.02 percent to 40,409.38 points. The indices remained in the red for most of the day as the market shed over 1300 points in intra-day trading.
Among other indices, the KMI-30 Index dropped 2,294.21 points to end at 64,780.81, while the KSE All Share Index fell by 751.93 points, closing at 28,315.61. Out of the total traded scripts, only 43 advanced while 269 declined.
Sectors behind the KSE-100’s fall included banking (-320.29 points), oil & gas exploration (-271.25 points) and fertiliser (-136.59 points). Among the companies, Pak Petroleum Limited (PPL -110.55 points), Habib Bank Limited (HBL -96.86 points) and Engro Corporation Limited (ENGRO -90.70 points) dented the index the most.
Of the 92 traded companies in the KSE100 Index 2 closed up 88 closed down, while 2 remained unchanged. Total volume traded for the index was 150.11 million shares.
All Share Volume increased by 9.27 Million to 203.14 Million Shares. Market Cap decreased by Rs.203.10 Billion.
Total companies traded were 351 compared to 346 from the previous session. Of the scrips traded 43 closed up, 296 closed down while 12 remained unchanged. Total trades increased by 2,910 to 73,934. Value Traded increased by 1.23 Billion to Rs.9.14 Billion.
