KARACHI: The Pakistan Inventory Trade (PSX) witnessed a bearish development on Monday because the benchmark KSE-100 index shed 1,510.72 factors on the closing of the market, ARY Information reported.
The 100-Index of the Pakistan Inventory Trade (PSX) shedding 1,510.72 factors, a detrimental change of 1.32 p.c, closing at 112,745.01 factors as in comparison with 114,255.73 factors on the final buying and selling day.
A complete of 401 million shares had been traded through the day as in comparison with 543 million shares the earlier buying and selling day, whereas the worth of shares stood at Rs20.35 billion in opposition to Rs27.973 billion on the final buying and selling day.
Analysts at Topline Securities attributed this detrimental development to the worldwide downturn on tariff considerations regardless of low inflation knowledge, saying that the investor sentiment was largely influenced by the rising considerations over escalating commerce tensions and the potential influence on international financial stability.
They mentioned, “The KSE-100 Index mirrored the development in international markets at present, reacting negatively to the information that U.S. President Donald Trump had ordered sweeping tariffs on items from Mexico, Canada, and China. This announcement created a ripple impact in worldwide markets, and the native market adopted swimsuit”.
As many as 450 firms transacted their shares within the inventory market, 137 of them recorded positive factors and 262 sustained losses, whereas the share value of 51 firms remained unchanged.
The three high buying and selling firms had been WorldCall Telecom with 26 million shares at Rs1.63 per share, Financial institution 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 Meals Restricted witnessed a most improve of Rs77.83 per share closing at Rs22,383 whereas runner-up was Sazgar Engineering Works Restricted with Rs 39.19 rise in its share value to shut at Rs1,063.
Sapphire Fibres Restricted witnessed a most lower of Rs68.45 per share value, closing at Rs 1,060.55, whereas the runner-up was Rafhan Maize Merchandise Firm Restricted with Rs 65.30 decline in its per share value to Rs9,483.33